Daniel Tabbush

Asian bank research and consultancy

Equity Bottom-Up

<ul>
<li>Far too much volatility in credit costs, making clarity on earnings difficult</li>
<li>All core fee income items down sharply in quarter, credit cost delta main driver</li>
<li>Despite good lending growth, there is little to show for it in ROA and core income</li>
</ul>

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. 

RHB Bank Bhd

RHB - Volatility