2009 Performance Review: Foreign Bank Stocks
The 2009 performance numbers of foreign bank stocks traded in the US markets are listed below in three sections.
a. Foreign Bank ADRs
| Company | Ticker | Country | Return in 2009 |
|---|---|---|---|
| Allied Irish Banks | AIB | Ireland | -25.16% |
| Banco Bilbao Vizcaya Argentaria | BBVA | Spain | 46.79% |
| Banco Bradesco | BBD | Brazil | 121.58% |
| Banco de Chile | BCH | Chile | 69.98% |
| Banco Macro | BMA | Argentina | 175.05% |
| Banco Santander Brasil | BSBR | Brazil | N/A |
| Banco Santander Chile | SAN | Chile | 84.93% |
| Banco Santander S.A | STD | Spain | 73.23% |
| Bancolombia | CIB | Colombia | 94.90% |
| Bank of Ireland | IRE | Ireland | 60.59% |
| Barclays Bank | BCS | United Kingdom | 79.59% |
| BBVA Banco Frances | BFR | Argentina | 109.67% |
| Corpbanca | BCA | Chile | 112.00% |
| Credit Suisse | CS | Switzerland | 73.96% |
| Deutsche Bank | DB | Germany | 74.27% |
| Grupo Financiero Galicia | GGAL | Argentina | 154.87% |
| HDFC Bank | HDB | India | 82.24% |
| HSBC | HBC | United Kingdom | 17.30% |
| ICICI Bank | IBN | India | 95.90% |
| Itau Unibanco Holding | ITUB | Brazil | 116.49% |
| KB Financial | KB | Korea | 94.08% |
| Lloyds Banking Group | LYG | United Kingdom | -56.46% |
| Mitsubishi UFJ Financial | MTU | Japan | -20.77% |
| Mizuho Financial | MFG | Japan | -38.30% |
| National Bank of Greece | NBG | Greece | 36.75% |
| Royal Bank of Scotland | RBS | United Kingdom | -38.10% |
| Shinhan Financial | SHG | Korea | 57.51% |
| UBS | UBS | Switzerland | 8.46% |
| Westpac Banking | WBK | Australia | 87.59% |
| Woori Finance | WF | Korea | 151.93% |
The best foreign bank ADR was Banco Macro of Argentina with a return of 175%. The worst performer was Llyods Bank of UK which lost 56%. Another British bank Royal Bank of Scotland also was a poor performer with a loss of 38%. Brazilian banks Itau Unibanco and Banco Bradesco more than doubled last year.
b. Canadian Inter-Listed Banks
| Company | Ticker | Country | Returns in 2009 |
|---|---|---|---|
| Bank of Novo Scotia | BNS | Canada | 78.00% |
| Bank of Montreal | BMO | Canada | 116.20% |
| Canadian Imperial Bank of Commerce | CM | Canada | 62.20% |
| Royal Bank of Canada | RY | Canada | 86.40% |
| TD Bank | TD | Canada | 80.70% |
Among the five Canadian banks, Bank of Montreal was the top performing stock with a return of 116%. Canada’s most profitable bank Royal Bank of Canada returned 86%. Overall all the Canadian bank stocks rebounded nicely in 2009.
c. Select Foreign Bank ADRs Traded on the OTC
| Company | Ticker | Country | Returns in 2009 |
|---|---|---|---|
| Australia and New Zealand Banking | ANZBY | Australia | 99.50% |
| BNP Paribas | BNPQY | France | 94.90% |
| Commerzbank | CRZBY | Germany | -13.00% |
| DBS Holdings | DBSDY | Singapore | 69.60% |
| Erste Group Bank | EBKDY | Austria | 68.60% |
| National Australia Bank | NABZY | Australia | 74.20% |
| Societe Generale | SCGLY | France | 49.20% |
| Swedbank | SWDBY | Sweden | 117.80% |
| United Overseas Bank | UOVEY | Singapore | 59.60% |
Commerzbank of Germany was the performing stock with a loss of 13%. Societe Generale of France beat BNP Paribas easily. All the three Australian banks – Westpac, National Australia Bank and Australia and New Zealand Banking Group – had great runs last year. Erste Bank received one of the most favorable bailouts from the Austrian government.DBS and United Overseas Bank of Singapore jumped over 50%.
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