We provide research, ideas, on Asian banks, global banks, and HSBC, STAN, in particular, with nearly 30 years of experience. Our Substack product includes a free component, while our paid product has greater depth. We also offer a professional subscription that will include access, spreadsheets, as well as bespoke research. Contact us directly for more information at email@example.com or subscribe to our Substack product here.
Our experience includes multiple booms, busts in banking, not only in Asia, but also globally. We were in Bangkok analyzing the smaller banks and finance companies, where stresses were weakest, before the Asian Financial Crisis began. Our analysis of the US subprime loan and CDO crisis focussed on the risks for HSBC from its formerly Household International operations. More recently, during the middle of 2020 our emphasis was on the likely provision and profit delta for US banks as well as many global banks, with re-instated dividends to follow.
While traditional bank analysis remains at the core of our research, we also look to corporate financials, as a way to gauge the risks facing banks. At the same time, we look extensively at the off-balance sheet, which can provide insight to financial risks, credit stresses, or relative risks between banks. At our core, we examine where we believe there is a gap between perception and reality, which can be for a specific bank, between banks, or more thematically, within a region.
Where we are in a world with vast amounts of excess liquidity, historically low interest rates, incredibly benign credit costs and excessive lending capacity, the outlook for banks can be especially positive. We hope that our analysis will provide subscribers with clear, salient and useful insights across a range of Asian, global banks, but also for the economies in which they operate.