In today’s briefing:
- LatAm Banks – Liquidity, Solvency and Credit Quality in Focus in a Crisis
- Japan Weekly | Financials Still a Concern, Recruit, Toyota Industries
LatAm Banks – Liquidity, Solvency and Credit Quality in Focus in a Crisis
- We examine key balance sheet ratios of the Latam banks looking into liquidity, credit quality and capital adequacy, at a time of investor nervousness and concern
- Based on our screening, our positive value picks are Bradesco and BanColombia, with Banco de Chile, BanBajio and BanRegio composing our positive high quality picks
- Our bearish picks are Banorte and BCI; Banorte is strong in terms of capital adequacy and credit quality, but is exposed in terms of its big securities portfolio
Japan Weekly | Financials Still a Concern, Recruit, Toyota Industries
- Japanese equities were marginally higher on the week as global markets continued to focus on problems in the banking system
- The Fed, The Bank of England and the Swiss National Bank continued to fight the war on inflation.
- In Japan, Recruit was the standout performer after the company announced a hefty cut to its workforce (in a bad news is good news kinda way)
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