Global Banks Research Highlights

研报英文原文证据摘录

Global Banks Research Highlights

J P M O R G A N Global Equity Research

03 July 2026

This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the

territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan.

Week Ending Jul 03, 2026

This report provides a summary of research produced by J.P. Morgan Global Bank Global Equity Research

ACEquity Research. Key highlights from the past week: Global Equity Research

• Australian Banks: Tax matters: Lessons on house prices and credit growth gr_publications@jpmorgan.comJ.P. Morgan Securities LLC

from across the ditch

• APRA May-26 Banking Stats: Business acceleration offsets slight slowdown

in mortgages … Budget impacts still to come

• Margin Drivers Monthly (Jun-26): Funding cost drivers a little negative,

watching for deposit competition signals

• Australian Banks: APRA Mar-26 property stats, inaugural system-wide

stress test, consultation on standardised risk weights

• U.S. Mid- and Small-Cap Banks: M&A Bi-Weekly Report: Nine Bank

Deals; Colony (GA) to Acquire First Reliance for ~$163mm in Cash-and-

Stock; YTD Deals: 78

• U.S. Mid- and Small-Cap Banks 2Q26 Earnings Preview: With Headwinds

Including Deposit Cost Competition Still At Play for Regional Banks, We

Remain Cautious

• India Financials: Credit card additions accelerate in May, but spends growth

remains soft

• India Financials: 1QFY27 Preview: Growth and NIMs in focus with AQ

benign; NBFCs positioned for a strong quarter

• Bajaj Finance Ltd: Stronger-than-expected growth delivery in 1Q; raising

forecasts, PT

• Absa Group Ltd: Trading update: 1H26 earnings tracking slightly below