Global Equity Strategy: More Cracks Begin to Show
Adding to last week’s concerns reiterated above, additional developments which have further dampened our overall outlook include a breakdown in the...
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MUFG (8306 JP): No Harm in Waiting (1Q FY3/2020 Results Comment)
Overall, Mitsubishi Ufj Financial (8306 JP)’s 1Q FY3/2020 results were encouraging. Japan’s biggest financial group looks well-placed to...
350 Views
Security Bank: Something Makes Me Feel Insecure
Security Bank (SECB PM) trades at a premium to Asian banks on a P/Book, franchise valuation, earnings yield, and total return ratio basis.The PH...
508 Views
Philippine National Bank – A Giant Gem, Still Undiscovered
Philippine National Bank (PNB PM) continues to go unnoticed. We are doubtful that this will last indefinitely. This is especially the case given...
635 Views
MUFG – Bank Danamon Deal Makes Little Sense
* Bank Danamon is additive to MUFG’s ASEAN strategy, bringing it's foreign content of EPS to 50%.* From a financial and managerial perspective,...
219 Views