Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Equity Bottom-Up

<ul>
<li><strong>There is talk that the regulator in China will allow banks to swap NPLs for equity stakes in the debtor companies. </strong></li>
<li><strong>This is also talk that the government will allow banks to package NPLs in the form of securities and sell them.  </strong></li>
</ul><div class="content-highlight"><p><em>The fact that these stories are coming out now, suggests that Beijing is incredibly worried about NPL formation, bank health and the state of economy.  And it should be, but these measures do not solve the asset quality problem, for want of scale for one thing.</em>   </p></div><h2>Ping An</h2>…


There is talk that the regulator in China will allow banks to swap NPLs for equity stakes in the debtor companies. 
This is also talk that the government will allow banks to package NPLs in the form of securities and sell them.  
The fact that these stories are coming out now, suggests that Beijing is incredibly worried about NPL formation, bank health and the state of economy.  And it should be, but these measures do not solve the asset quality problem, for want of scale for one thing.   Ping An…

<p><strong>Most Chinese banks have yet to announce their full year 2015 results. They are yet to come.</strong> </p><p>The focus will have to be on credit quality. We know from the People’s Bank of China (PBOC) measures that they are incredibly concerned with the pace of economic growth and bank health in particular. They removed the LDR cap. They got rid of the one child policy. They devalued the currency. They lowered reserve requirements.  </p><p>And we have seen some capital controls. It should come as no surprise that Ping…</p>

Most Chinese banks have yet to announce their full year 2015 results. They are yet to come. The focus will have to be on credit quality. We know from the People’s Bank of China (PBOC) measures that they are incredibly concerned with the pace of economic growth and bank health in particular. They removed the LDR cap. They got rid of the one child policy. They devalued the currency. They lowered reserve requirements.  And we have seen some capital controls. It should come as no surprise that Ping…

Ping An Bank with 100% Higher Impairments

China

Ping An Bank Co Ltd provides a full range of commercial banking services including RMB and foreign currency deposit, loan, international and domestic settlement, discount, currency trading, letter of credit, bank guarantee, and other related services.

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Ping An Bank Co Ltd A (000001 CH)

China Is Frantic About NPLs

There is talk that the regulator in China will allow banks to swap NPLs for equity stakes in the debtor companies. This is also talk that the...

Daniel Tabbush

Ping An Bank with 100% Higher Impairments

Most Chinese banks have yet to announce their full year 2015 results. They are yet to come. The focus will have to be on credit quality. We know...

Daniel Tabbush

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)