Jefferies Global Bank Valuation Comps 22/06/2026

Research evidence excerpt

Jefferies Global Bank Valuation Comps 22/06/2026

Global | Banks EquityJuneResearch23, 2026

Jefferies Global Bank Valuation Comps

22/06/2026

Given investors' increasing focus on global banks' relative performance, we

provide a comprehensive look at bank valuations and share performance

worldwide. Please contact us if you would like to receive the tables in Excel.

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European Banks (Joe Dickerson, Jonathan Pierce, Marco Nicolai, Alex Demetriou, Miruna Chirea,

Theo Massing):

BPER First View: Buyback Approved by ECB. More in Sight?

Spain - CNMC Mortgage Probe: Collusion or Illusion?

UK Banks - Maker your mind up?

UBS: US scaling, Asia flywheel, IB kicker – the momentum is broadening

Spain Investment Funds Performance Tracker (May 26) Joseph Dickerson * | Equity Analyst

44 (0) 20 7029 8309 | jdickerson@jefferies.com

Execution Driving Upside – BGN Raised to Buy

Jonathan Pierce ^ | Equity Analyst

Intesa-MPS: final showdown +44 (0)20 7548 4079 | jpierce@jefferies.com

Marco Nicolai * | Equity Analyst

Banco BPM–MPS: Opening the Door +39 02 3601 1946 | mnicolai@jefferies.com

Alexander Demetriou ^ | Equity Analyst

Euro Banks – Customer Margins improve in April +44 (0)20 7029 8593 | ademetriou@jefferies.com

ABN First View: Wage Negotiations Underway – Focus on Cost Trajectory Miruna Chirea ^ | Equity Analyst

+44 (0)20 7029 8336 | mchirea@jefferies.com

UK April data: loans up >5% y-o-y, M4 mix fine Theo Massing * | Equity Analyst

+33 1 8665 6306 | tmassing@jefferies.com

Paragon H1 2026 results - pulling the right levers

David Chiaverini, CFA ‡ | Equity Analyst

HK Financials - Formalizing a Process +1 (212) 778-8554 | dchiaverini@jefferies.com

John Hecht ‡ | Equity Analyst

Alpha - Fee engine continues to deliver +1 (415) 229-1569 | jhecht@jefferies.com

Daniel T.