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)

<p>Poor loan processing caused high NPLs, and this is now changing. &nbsp;As NPLs move from 4.5% of loans toward 3.0%, investors will be rewarded. At 1.2x PB, BJBR is cheap vs peers, and with a high 10% dividend yield.</p>

Poor loan processing caused high NPLs, and this is now changing. &nbsp;As NPLs move from 4.5% of loans toward 3.0%, investors will be rewarded. At 1.2x PB, BJBR is cheap vs peers, and with a high 10% dividend yield.

A cheap Indonesian bank, with a 10% yield, where NPLs will decline fast. 

Indonesia

The Jakarta Stock Price Index is a modified capitalization-weighted index of all stocks listed on the regular board of the Indonesia Stock Exchange. The index was developed with a base index value of 100 as of August 10, 1982. Please look at CDR JA<GO> for exchange trading days.

Jakarta Stock Exchange Composite Index (JCI INDEX)

A cheap Indonesian bank, with a 10% yield, where NPLs will decline fast.

Poor loan processing caused high NPLs, and this is now changing. As NPLs move from 4.5% of loans toward 3.0%, investors will be rewarded. At 1.2x...

Daniel Tabbush