According to new data from the S&P Global Market Intelligence, Pakistani banks dominated the best -performing banking stock of Asia Pacific in the third quarter, a rally lifted return in the country’s equity market returned well.
The S&P said that the Bank of Punjab took the leading position with market capitalization of more than $ 10 million in the list of publicly traded Asia Pacific banks, which provided the highest return in the quarter.
The Bank of Khyber came second, with a total of 108.2 % posted. Other Pakistani lenders who make the top 15 included National Bank of Pakistan, JS Bank Limited, Military Bank Limited, and Habib Bank Limited.
The rise in the Pakistani bank stock began when the country’s benchmark KSE-100 index took advantage of the fifth straight month, after the resolution of the military deadlock with India in May, it was happy with the better sentiments of investors. Diplomatically successes in the United States, including meetings between Pakistani leaders and then President Donald Trump, helped to hope for fuel. S&P data shows that KSE-100 progressed 11 % in July and 11.4 % in September.
Indonesian and Vietnamese banks also prominently featured the top actors in the region. PTOL Bank Indonesia TBK placed third with a total return of 89.2 %, while Vietnam’s prosperous Joint Stock Commercial Bank, including three Vietnamese Bank, the largest market cap is $ 9.34 billion, all added to the list.
At the other end of the spectrum, Chinese and Indian banks dominated the worst actors in the region. Of the worst performing Asia -Pacific Bank stock, seven mid -Tiger were Chinese lenders, headed by the Bank of Geojing Company Limited, which made a negative total of 18.2 percent in the quarter. Other Chinese banks on the list include China Everbright Bank Company Limited, Bank of Beijing Company Limited, Hua Xiazia Bank Company Limited, Bank of Shanghai Company Limited, Industrial Bank Company Limited, and Bank of Jiangsu Company Limited.
Five Indian banks also include the worst actors: AAVAS Financeers Limited, Dhanlexami Bank Limited, Indus Indus Bank Limited, Equis Small Finance Bank Limited, and Bajaj Holdings and Investment Limited.
Indonesia’s PT Bank was the only worst performing bank stock in the region of the National Nonobo TB region, with a total of 31.9 % negative return in the third quarter. Bangladesh’s Midland Bank PLC, who led the region in the last quarter, came to the third world with a negative return of 20.9 %. South Korea’s Kobinic Corporation was near, with a negative return of 20.8 %.