Ping An Bank, or PAB, has been transforming into a retail-focused bank. While we believe it has yet to earn a moat, we’re positive about its transformation, given its ability to leverage its parent’s huge customer base and integrated offline and online financial platform.
The increase in the dividend payout ratio despite slowing growth indicates management's confidence about long-term growth and capital returns for shareholders.
PAB's net interest margin faces higher-than-peer pressure due to increasing competition for retail deposits and proactive efforts to derisk its loan book.
|
Metric
|
000001
|
600036
|
601998
|
|---|---|---|---|
Price/Earnings (Normalized) | 5.15 | 6.10 | 6.67 |
Price/Book Value | 0.52 | 0.89 | 0.59 |
Price/Sales | 1.45 | 2.70 | 2.00 |
Price/Cash Flow | — | 2.42 | — |
|
Metric
|
000001
|
600036
|
601998
|
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | — | — | — |
|
Metric
|
000001
|
600036
|
601998
|
|---|---|---|---|
Return on Assets (Normalized) | 0.84% | 1.33% | 0.76% |
Return on Equity (Normalized) | 11.84% | 16.13% | 11.41% |
Return on Invested Capital (Normalized) | — | — | — |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
BNPQY
| BNP Paribas ADR | Gzzrrzh | Jbzl | $82.8 Bil | |
ISNPY
| Intesa Sanpaolo ADR | Grrjjmpdm | Lngz | $71.2 Bil | |
USB
| U.S. Bancorp | Zzswpvndtg | Dhk | $63.3 Bil | |
PNC
| PNC Financial Services Group Inc | Ltvvnjk | Jdrkj | $62.6 Bil | |
ITUB
| Itau Unibanco Holding SA ADR | Kqvsyyjp | Fjtz | $55.5 Bil | |
TFC
| Truist Financial Corp | Grwhytd | Lgndcjl | $50.5 Bil | |
MFG
| Mizuho Financial Group Inc ADR | Jnwxqrsy | Tvvl | $50.5 Bil | |
LYG
| Lloyds Banking Group PLC ADR | Fcqbtcln | Clynd | $44.4 Bil | |
NWG
| NatWest Group PLC ADR | Rmkc | Zxpdh | $33.4 Bil | |
DB
| Deutsche Bank AG | Qrtw | Gpxf | $32.6 Bil |
