Rizal Commercial Bank’s Inaugural AT1 Bond: Caveat Emptor
Caveat emptor. That is, let the buyer beware. Rizal Commercial Bank's (RCB PM) Additional Tier 1 (AT1) bond should be un-investable for many. This...
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US Banks – Loan Modifications
There is granular data for US banks on loan modifications due to the economic shutdown as well as Payment Protection Program (PPP) loans. One may...
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AIA Group – Interesting Indian Transaction
*Creative New Revenue Opportunity: AIA Group (1299.HK) [AIA], via its 49%-owned Tata AIA JV in India, has entered into a strategic partnership with...
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HSBC – Unimpressive
There appears to be a recurring theme with banks, whereby those with high credit costs early in the year relative to recent years, see a marked...
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Cullen/Frost Bankers – Higher Oil, Less Provisions?
There are few banks in the US or in Texas that have seen as much credit costs during 1Q20 as Cullen/Frost Bankers (CFR US). While both JPMorgan...
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