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.

Thematic (Sector/Industry)

It is strange to see that so many China banks are reporting nearly identical net profit, close to 0% in their just announced 2015 results. We presume there is some posturing and positioning amongst banks, to be sure no single bank is too out of line and reported rates of growth are similarly poor.  Gone are the days of heady growth, which is no surprise, given the ramp up of bad loans, worsening credit growth and pressure on net interest margins. As we look at a few of China’s banks newly…

It is strange to see that so many China banks are reporting nearly identical net profit, close to 0% in their just announced 2015 results. We presume there is some posturing and positioning amongst banks, to be sure no single bank is too out of line and reported rates of growth are similarly poor.  Gone are the days of heady growth, which is no surprise, given the ramp up of bad loans, worsening credit growth and pressure on net interest margins. As we look at a few of China’s banks newly…

China Bank Profit on the Way to Contraction

We ask the questions that need to be asked, Hong Bao Media Holdings Pte Ltd

Mark Laudi • Investor Central

We ask the questions that need to be asked

Hong Bao Media Holdings Pte Ltd

Now that Singapore's banks have published their results, veteran market watchers Song Seng Wun and Kevin Scully take an in-depth look at China's economic woes and give their calls on the banks and other financial services companies.

Now that Singapore's banks have published their results, veteran market watchers Song Seng Wun and Kevin Scully take an in-depth look at China's economic woes and give their calls on the banks and other financial services companies.

Video: How Much Will a Bursting of the China Bubble Hurt Singapore Banks?

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

What will China look like in 2025? This is a follow up to our <a href="https://www.smartkarma.com/insights/outlook-for-china-10-predictions-for-the-next-10-years" target="_blank" data-smartkarma-citation="insights:2955">Outlook for China:10 Predictions for the Next 10 Years</a> presentation, where we present 10 key data visualisations to back up 10 bold predictions we expect to play out in China over the next 10 years.In this note we provide more background to the thinking behind our predictions.Analyst: Daniel Rohr, CFAChina's faltering economy has sent shivers through the global markets in 2016, and for good reason.As the world's second-largest economy…

What will China look like in 2025? This is a follow up to our Outlook for China:10 Predictions for the Next 10 Years presentation, where we present 10 key data visualisations to back up 10 bold predictions we expect to play out in China over the next 10 years.In this note we provide more background to the thinking behind our predictions.Analyst: Daniel Rohr, CFAChina's faltering economy has sent shivers through the global markets in 2016, and for good reason.As the world's second-largest economy…

In this presentation, we present a series of data visualisations to back up 10 bold predictions we expect to play out in China over the next 10 years.Our predictions are based on three basic assumptions:<ol><li>Demographic: China is aging and its workforce is shrinking.</li><li>Economic: China will rebalance.</li><li>Political: Beijing values stability and control above all else.</li></ol>Analyst: Daniel Rohr, CFA

In this presentation, we present a series of data visualisations to back up 10 bold predictions we expect to play out in China over the next 10 years.Our predictions are based on three basic assumptions:Demographic: China is aging and its workforce is shrinking.Economic: China will rebalance.Political: Beijing values stability and control above all else.Analyst: Daniel Rohr, CFA

Outlook for China:10 Predictions for the Next 10 Years

<ul>
<li>There is a new proposal from BIS that is seeking to change the way banks calculate their operational risk. </li>
<li>The concern they have is the current method is too simplistic and fundamentally flawed. Of course it is; it is simply a percentage based on gross revenue.  
</li>
<li>Operational risk is all about processes, systems and internal controls. While we may not know exactly how any new calculation will look, what is telling is how three China banks compare with three Australian banks.</li>
<li>Is it even in the realm…</li>
</ul>


There is a new proposal from BIS that is seeking to change the way banks calculate their operational risk. 
The concern they have is the current method is too simplistic and fundamentally flawed. Of course it is; it is simply a percentage based on gross revenue.  

Operational risk is all about processes, systems and internal controls. While we may not know exactly how any new calculation will look, what is telling is how three China banks compare with three Australian banks.
Is it even in the realm…


New BIS Proposal on Operational Risk, Comparing China to Australia

China

CSC Financial Co., Ltd. provides investment management services. The Company offers investment banking, wealth management, and trading and institutional client services. CSC Financial conducts its business in Hong Kong.

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CSC Financial (601066 CH)

China Bank Profit on the Way to Contraction

It is strange to see that so many China banks are reporting nearly identical net profit, close to 0% in their just announced 2015 results. We...

Daniel Tabbush

Video: How Much Will a Bursting of the China Bubble Hurt Singapore Banks?

Now that Singapore's banks have published their results, veteran market watchers Song Seng Wun and Kevin Scully take an in-depth look at China's...

Mark Laudi • Investor Central

What Will China Look Like in 2025?

What will China look like in 2025? This is a follow up to our Outlook for China:10 Predictions for the Next 10 Years presentation, where we present...

Morningstar, Inc.

Outlook for China:10 Predictions for the Next 10 Years

In this presentation, we present a series of data visualisations to back up 10 bold predictions we expect to play out in China over the next 10...

Morningstar, Inc.

New BIS Proposal on Operational Risk, Comparing China to Australia

There is a new proposal from BIS that is seeking to change the way banks calculate their operational risk. The concern they have is the current...

Daniel Tabbush

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