On The Performance of Exchange-Listed Foreign Bank Stocks YTD

Most of the foreign bank stocks were in the red around this time last year. However it is a better story this year with most of them up at least so far. The top performers are from Argentina which is permanent basket case of a mismanaged economy. Unlike 2022, Brazilian banks have not shot up high though they are in the positive. Notable among the banks down YTD are British banks excluding HSBC and Bancolombia of Colombia.

The following table shows the year-to-date returns of foreign bank stocks:

S.No.Company NameTickerClosing Price on Setp 15, 2023Year-to-Date Change(%)Country
1Grupo Financiero GaliciaGGAL $16.23 63.10%Argentina
2Banco MacroBMA $24.00 43.91%Argentina
3Mitsubishi UFJ FinancialMUFG $8.98 30.13%Japan
4Banco BBVA Argentina S.A.BBAR $5.11 29.74%Argentina
5Banco Bilbao Vizcaya ArgentariaBBVA $7.73 27.62%Spain
6HSBCHSBC $39.37 26.03%United Kingdom
7Mizuho FinancialMFG $3.64 25.70%Japan
8Banco SantanderSAN $3.73 24.41%Spain
9Sumitomo Mitsui FinancialSMFG $10.17 24.06%Japan
10Banco Santander ChileBSAC $18.81 19.57%Chile
11Itau UnibancoITUB $5.64 19.53%Brazil
12KB Financial GroupKB $42.51 10.17%Korea
13Banco BradescoBBDO $2.83 9.30%Brazil
14ICICI BankIBN $23.97 9.14%India
15Banco BradescoBBD $3.06 6.25%Brazil
16Woori Financial Group Inc.WF $27.89 2.87%Korea
17Barclays BankBCS $7.97 2.56%United Kingdom
18Shinhan FinancialSHG $27.79 2.01%Korea
19Banco Itau ChileITCL $3.37 1.55%Chile
20Banco de ChileBCH $20.86 1.34%Chile
21Banco Santander BrasilBSBR $5.56 0.74%Brazil
22Bancolombia CIB $27.49 -3.22%Colombia
23Lloyds Banking GroupLYG $2.11 -4.09%United Kingdom
24HDFC BankHDB $66.20 -4.96%India
25Deutsche BankDB $11.01 -5.12%Germany
26NatWestNWG $6.00 -8.05%United Kingdom

Note: The returns noted above are excluding dividends

Source: BNY Mellon

It remains to be seen if these banks would add further gains thru the reminder of this year.

Disclosure: Long BCH, CIB, ITUB, BBD, BBVA and SAN

Leave a Reply

Your email address will not be published. Required fields are marked *