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

Shizuoka Financial Group  / Equity Bottom-Up

<ul>
<li>Credit costs in September quarter are showing steep delta YoY and QoQ</li>
<li>Accelerated credit growth in past six months may mean there is more to come</li>
<li>Funding cost surge is keeping net interest income growth near zero despite swelling loans</li>
</ul>


Credit costs in September quarter are showing steep delta YoY and QoQ
Accelerated credit growth in past six months may mean there is more to come
Funding cost surge is keeping net interest income growth near zero despite swelling loans


Japan

Shizuoka Financial Group, Inc. offers banking services. The Company provides deposits, loans, fund management, domestic settlement, and other services. Shizuoka Financial Group provides its services throughout Japan.

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Shizuoka Financial Group (5831 JP)

Shizuoka - Indigestion

Credit costs rising a lot with ~10% higher loans in arrears in 1H23. Credit growth accelerating, but net interest income at near zero: COF up...

Daniel Tabbush

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