Jefferies Global Bank Valuation Comps 11/05/2026

研报英文原文证据摘录

Jefferies Global Bank Valuation Comps 11/05/2026

Global | Banks EquityMayResearch12, 2026

Jefferies Global Bank Valuation Comps

11/05/2026

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 & LATAM (Joe Dickerson, Jonathan Pierce, Marco Nicolai, Inigo Vega, Alex

Demetriou, Miruna Chirea):

Intesa Off the Call: Upbeat message, Focus on Guidance

NBG 1Q26 First Take — Solid results and a new bancassurance deal improves fees

EUROB 1Q26 First Take — Strong performance on NII, fees and volumes

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BPER 1Q26 First Take - Solid Core Trends, Prudent Guidance

Fineco 1Q26 First take - Good April Inflows, Company Flags Better Trends

BCP 1Q26 First Look: Stellar Portugal, Improving Poland, But Capital Softness

Unicaja Post 1Q26 - Business As Usual; Valuation Less Compelling

Joseph Dickerson * | Equity Analyst

Banca Generali 1Q26 First take - Results ahead, Slight Upgrade to Guidance 44 (0) 20 7029 8309 | jdickerson@jefferies.com

BAMI - Results a touch ahead, Guidance Reiterated on Pre-Tax Basis only Jonathan Pierce ^ | Equity Analyst

+44 (0)20 7548 4079 | jpierce@jefferies.com

HSBC - Better NII Guide, 19% ROTE the Highlights of a Somewhat Noisy Q1 26 Marco Nicolai * | Equity Analyst

+39 02 3601 1946 | mnicolai@jefferies.com

UNI 1Q26 First Look: Provision-Driven Beat; Upward Pressure on the Cost of Deposits

Alexander Demetriou ^ | Equity Analyst

Danske - Focused growth, cost discipline and capital generation +44 (0)20 7029 8593 | ademetriou@jefferies.com

Miruna Chirea ^ | Equity Analyst