Global Bank Equity Specialist, Creative Portfolios

Paul Hollingworth

Global Bank Equity Specialist

Creative Portfolios

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/bank-muscat-saog" target="_blank" data-smartkarma-citation="entities:27774:1" rel="noopener">Bank Muscat SAOG (BKMB OM)</a> remains highly valued after a Fitch downgrade yesterday.</p><div>
<p>With Muscat, the valuation on a FV bais is challenging given its lowly credit rating. </p>
<p>Oman’s sovereign rating stands at BB-, three steps below investment grade and on par with Brazil, Turkey and Bangladesh. (Valuations similarly look stretched in Brazil given credit rating).</p>
</div><div><p>The bank commands a PH Score™ of 5.7. This is a rather flat, mediocre outcome, adding to a picture of anaemic growth and Asset Quality erosion.</p></div><div><div><div class="content-highlight"><p>The PH Score™ is a fundamental momentum-quantamental score that scores banks according to changes in value-quality. The Score encompasses Profitability, Operating Efficiency, Liquidity, Capital, Asset Quality, and Coverage as well as a valuation variable. Scores lie between 0 and 10, with higher scores representing more positive signs. The PH Score™ was back tested over 2007-17 for global banks and conclusively shows progressively higher returns across quintiles ranked by Score. </p></div></div></div>

Bank Muscat SAOG (BKMB OM) remains highly valued after a Fitch downgrade yesterday.
With Muscat, the valuation on a FV bais is challenging given its lowly credit rating. 
Oman’s sovereign rating stands at BB-, three steps below investment grade and on par with Brazil, Turkey and Bangladesh. (Valuations similarly look stretched in Brazil given credit rating).
The bank commands a PH Score™ of 5.7. This is a rather flat, mediocre outcome, adding to a picture of anaemic growth and Asset Quality erosion.The PH Score™ is a fundamental momentum-quantamental score that scores banks according to changes in value-quality. The Score encompasses Profitability, Operating Efficiency, Liquidity, Capital, Asset Quality, and Coverage as well as a valuation variable. Scores lie between 0 and 10, with higher scores representing more positive signs. The PH Score™ was back tested over 2007-17 for global banks and conclusively shows progressively higher returns across quintiles ranked by Score. 

Oman

Romania

Bank Muscat SAOG provides financial services that includes corporate banking, retail banking, investment banking, treasury, private banking, and asset management. The Bank has international operations.

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Bank Muscat SAOG (BKMB OM)

Bank Muscat: Macro Call

Bank Muscat SAOG (BKMB OM) remains highly valued after a Fitch downgrade yesterday. With Muscat, the valuation on a FV bais is challenging given...

Paul Hollingworth

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