Contents Executive summary 3 The single largest contributor to earnings growth in a recovery is provision utilisation, which we estimate at about A$3bn per bank. In combination with more optimistic credit-growth assumptions, we upgrade ear...
China Banks Momentum Is Still Positive Surprises on macro front continue to be on the upside: Chinas 2Q09 GDP came in at 7.9%, and Morgan Stanleys China economist, Qing Wang, revised up his GDP forecasts to 9% for 2009 and 10% for 2010. In...
China Recent indicators point to a recovery of economic activity in the coming months. Monetary stimulus is much more powerful and front-loaded than fiscal stimulus at this moment. Deflation risk eases. We expect this years average grain p...
报告内容 项目进展综述 第一阶段利润报告系统 客户服务战略初步成果 第二、三阶段利润报告系统 动因成本法介绍 下一步工作计划...
Contents Investment summary.........................................................................................................3 Potential significant slowdown in loan growth in 2010.......................................................
Contents Executive summary 3 The single largest contributor to earnings growth in a recovery is provision utilisation, which we estimate at about A$3bn per bank. In combination with more optimistic credit-growth assumptions, we upgrade ear...
Electric Vehicles offer one of the fastest growth stories over the next twenty years. We expect automotive sales of electric vehicles to rise to over $400 billion by 2030 with batteries rising to over $100 billion and incremental charging...
Margins narrowing; volumes short of compensating; earnings quality dubious So, what do we have other than high capitalisations? Beware of the final quarter -- Despite the expected qoq margin erosion and flat volumes, the banks are likely t...
Table of Contents Executive summary ........................................................................... 3 1. 1H09 performance of Polish banks was strong .............................................3 2. Macroeconomic picture more f...
Table of Contents Valuations .................................................................................3 Cost of equity.......................................................................3 Outlook for banking shares.................
