Jefferies Global Bank Valuation Comps

Research evidence excerpt

Jefferies Global Bank Valuation Comps

Global | Banks EquityJuneResearch30, 2026

29/06/2026

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.

.

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

Theo Massing):

UBS - First View: 2026 Fed Stress test unlocks more capital

Italy Political Outlook: Road to 2027 Elections | Expert Call

French Banks: Livret A data - fifth month of regulated savings outflows

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

Spain - CNMC Mortgage Probe: Collusion or Illusion? Joseph Dickerson * | Equity Analyst

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

UK Banks - Maker your mind up?

Jonathan Pierce ^ | Equity Analyst

UBS: US scaling, Asia flywheel, IB kicker – the momentum is broadening +44 (0)20 7548 4079 | jpierce@jefferies.com

Marco Nicolai * | Equity Analyst

Spain Investment Funds Performance Tracker (May 26) +39 02 3601 1946 | mnicolai@jefferies.com

Alexander Demetriou ^ | Equity Analyst

Execution Driving Upside – BGN Raised to Buy +44 (0)20 7029 8593 | ademetriou@jefferies.com

Intesa-MPS: final showdown Miruna Chirea ^ | Equity Analyst

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

Banco BPM–MPS: Opening the Door Theo Massing * | Equity Analyst

+33 1 8665 6306 | tmassing@jefferies.com

Euro Banks – Customer Margins improve in April

David Chiaverini, CFA ‡ | Equity Analyst

ABN First View: Wage Negotiations Underway – Focus on Cost Trajectory +1 (212) 778-8554 | dchiaverini@jefferies.com

John Hecht ‡ | Equity Analyst

US Regional and Mid-cap Banks (David Chiaverini) +1 (415) 229-1569 | jhecht@jefferies.com

Daniel T.