UBS Research: Banks http://clientportal.ibb.ubs.com/portal/index.jsp?page=eqrschstockrschsector&IndCatCode=BNK&MarketCode=GL&MarketCap=X UBS Research: Banks en Copyright (C) UBS 2009. All rights reserved. eMarketing@ubs.com eMarketing@ubs.com Fri, 20 Nov 2009 Sun, 22 Nov 2009 60 http://clientportal.ibb.ubs.com/portal/index.jsp?page=eqrschrss http://research.ibb.ubs.com:80/images/logo.gif UBS http://www.ubs.com 160 44 <![CDATA[UBS FIG Overdraft 20-Nov-2009]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez82878|native|public Regions
  • Global

  • Americas

  • United States

  • North America


Sectors
  • Global Banks

  • Global Diversified Financial

  • Global Savings & Loan

  • Global Investment Services

  • Global Insurance, Life

  • Global Insurance, Property & Casualty

  • Global Financial

  • Global Insurance

  • Global Financial Services

  • Global Banks, Ex-S&L

  • Americas Banks

  • Americas Diversified Financial

  • Americas Savings & Loan

  • Americas Investment Services

  • US Banks

  • US Diversified Financial

  • US Savings & Loan

  • US Investment Services

  • US Insurance, Life

  • US Insurance, Property & Casualty

  • Americas Insurance, Life

  • Americas Insurance, Property & Casualty

  • Americas Financial

  • Americas Insurance

  • US Financial

  • US Insurance

  • Americas Financial Services

  • US Financial Services

  • US Banks, Ex-S&L

  • Americas Banks, Ex-S&L

  • North American Banks, Ex-S&L

  • North American Banks

  • North American Financial

  • North American Diversified Financial

  • North American Financial Services

  • North American Insurance, Life

  • North American Insurance, Property & Casualty

  • North American Insurance

  • North American Savings & Loan

  • North American Investment Services


]]> Andrew Kligerman http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez82878|native|public|20091120151303 Fri, 20 Nov 2009 <![CDATA[Global Bank Valuations 20-Nov-2009]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer70061|native|public Regions
  • Global


Sectors
  • Global Banks

  • Global Diversified Financial

  • Global Financial

  • Global Financial Services

  • Global Banks, Ex-S&L


Subjects
  • Industry Overview

]]> Philip Finch http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer70061|native|public|20091120144609 Fri, 20 Nov 2009 <![CDATA[Global Bank Valuations 20-Nov-2009]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer70060|native|public Regions
  • Global


Sectors
  • Global Banks

  • Global Diversified Financial

  • Global Financial

  • Global Financial Services

  • Global Banks, Ex-S&L


Subjects
  • Industry Overview

]]> Philip Finch http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer70060|native|public|20091120144328 Fri, 20 Nov 2009 <![CDATA[KBC "Time heals " (Neutral) Fall]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer70017|native|public Regions
  • Belgium

  • Europe Including UK

  • Europe Ex. UK

  • Global

  • UBSW EMEA


Sectors
  • Belgian Banks

  • European Banks

  • European Ex. UK Banks

  • Global Banks

  • Belgian Financial

  • European Financial

  • European Ex. UK Financial

  • Global Financial

  • Belgian Banks, Ex-S&L

  • European Banks, Ex-S&L

  • European Ex. UK Banks, Ex-S&L

  • Global Banks, Ex-S&L


Companies
  • KBC.BR KBC


Subjects
  • Company Update

  • Morning Note

]]> Omar Fall KBC.BR http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer70017|native|public|20091120040035 Fri, 20 Nov 2009 <![CDATA[Investec "H1 10: At a turning point" (Buy) Potgieter]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=ueq01218|native|public Regions
  • Global

  • South Africa

  • EMEA Emerging

  • UBSW EMEA

  • Emerging Markets


Sectors
  • Global Banks

  • South African Banks

  • EMEA Emerging Banks

  • EMEA Emerging Financial

  • Global Financial

  • South African Financial

  • South African Banks, Ex-S&L

  • EMEA Emerging Banks, Ex-S&L

  • Global Banks, Ex-S&L

  • Global Emerging Banks, Ex-S&L

  • Global Emerging Banks

  • Global Emerging Financial


Companies
  • INVP.L Investec


Subjects
  • Company Update

  • Operating Results

  • Morning Note

]]> Stephan Potgieter, CFA INVP.L http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=ueq01218|native|public|20091119215216 Thu, 19 Nov 2009 <![CDATA[Piraeus Bank "Third quarter effectively in-line" (Buy) Kyrtsis]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer70014|native|public Regions
  • Europe Including UK

  • Europe Ex. UK

  • Global

  • Greece

  • UBSW EMEA


Sectors
  • European Banks

  • European Ex. UK Banks

  • Global Banks

  • Greek Banks

  • European Financial

  • European Ex. UK Financial

  • Global Financial

  • Greek Financial

  • Greek Banks, Ex-S&L

  • European Banks, Ex-S&L

  • European Ex. UK Banks, Ex-S&L

  • Global Banks, Ex-S&L


Companies
  • BOPr.AT Piraeus Bank


Subjects
  • Company Update

  • Operating Results

  • Morning Note

]]> Alexander Kyrtsis BOPr.AT http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer70014|native|public|20091119201734 Thu, 19 Nov 2009 <![CDATA[Korea Banks "A return to profitability" 19-Nov-2009 Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51887|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 055550.KS Shinhan FG

  • 086790.KS Hana Financial Group

  • 004940.KS Korea Exchange Bank

  • 105560.KS KB Financial Group

  • 053000.KS Woori FH

  • 024110.KS IBK

  • 005280.KS Busan Bank

  • 005270.KS Daegu Bank

  • 029780.KS Samsung Card


Subjects
  • Company Update

  • Industry Overview

  • Initiating Coverage

]]> Scott Lee 055550.KS 086790.KS 004940.KS 105560.KS 053000.KS 024110.KS 005280.KS 005270.KS 029780.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51887|native|public|20091119141300 Thu, 19 Nov 2009 <![CDATA[Woori FH "Woori has more room for recovery [EXTRACT]" (Buy) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51896|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 053000.KS Woori FH


Subjects
  • Company Update

  • Initiating Coverage

  • Morning Note

]]> Scott Lee 053000.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51896|native|public|20091119115024 Thu, 19 Nov 2009 <![CDATA[Korea Exchange Bank "A potential M&A candidate [EXTRACT]" (Buy) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51895|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 004940.KS Korea Exchange Bank


Subjects
  • Company Update

  • Initiating Coverage

  • Morning Note

]]> Scott Lee 004940.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51895|native|public|20091119114940 Thu, 19 Nov 2009 <![CDATA[Hana Financial Group "Times have changed [EXTRACT]" (Neutral) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51893|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 086790.KS Hana Financial Group


Subjects
  • Company Update

  • Initiating Coverage

  • Morning Note

]]> Scott Lee 086790.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51893|native|public|20091119114808 Thu, 19 Nov 2009 <![CDATA[Daegu Bank "A small but profitable niche player [EXTRACT]" (Buy) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51894|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 005270.KS Daegu Bank


Subjects
  • Company Update

  • Initiating Coverage

  • Morning Note

]]> Scott Lee 005270.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51894|native|public|20091119114819 Thu, 19 Nov 2009 <![CDATA[Shinhan FG "It is a low-beta stock [EXTRACT]" (Neutral) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51892|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 055550.KS Shinhan FG


Subjects
  • Company Update

  • Initiating Coverage

  • Morning Note

]]> Scott Lee 055550.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51892|native|public|20091119114659 Thu, 19 Nov 2009 <![CDATA[IBK "The king of SME lending in Korea [EXTRACT]" (Buy) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51891|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 024110.KS IBK


Subjects
  • Company Update

  • Initiating Coverage

  • Morning Note

]]> Scott Lee 024110.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51891|native|public|20091119114627 Thu, 19 Nov 2009 <![CDATA[KB Financial Group "It is about capital efficiency [EXTRACT]" (Buy) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51890|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 105560.KS KB Financial Group


Subjects
  • Company Update

  • Initiating Coverage

  • Morning Note

]]> Scott Lee 105560.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51890|native|public|20091119114455 Thu, 19 Nov 2009 <![CDATA[Busan Bank "Another regional niche player [EXTRACT]" (Buy) Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51889|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Korean Banks

  • Asian Financial

  • Korean Financial

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • 005280.KS Busan Bank

  • 005270.KS Daegu Bank


Subjects
  • Company Update

  • Initiating Coverage

  • Morning Note

]]> Scott Lee 005280.KS 005270.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51889|native|public|20091119114445 Thu, 19 Nov 2009 <![CDATA[Korea Banks "A return to profitability [EXTRACT]" 19-Nov-2009 Lee]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51888|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Korea

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Diversified Financial

  • Global Financial

  • Global Financial Services

  • Global Banks, Ex-S&L

  • Asian Banks

  • Asian Diversified Financial

  • Korean Banks

  • Korean Diversified Financial

  • Asian Financial

  • Korean Financial

  • Asian Financial Services

  • Korean Financial Services

  • Korean Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Diversified Financial

  • Asian Pacific Financial Services

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asian Pacific Ex. JP Diversified Financial

  • Asian Pacific Ex. JP Financial Services

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial

  • Asia Emerging Diversified Financial

  • Asia Emerging Financial Services


Companies
  • 055550.KS Shinhan FG

  • 086790.KS Hana Financial Group

  • 004940.KS Korea Exchange Bank

  • 105560.KS KB Financial Group

  • 053000.KS Woori FH

  • 024110.KS IBK

  • 005280.KS Busan Bank

  • 005270.KS Daegu Bank

  • 029780.KS Samsung Card


Subjects
  • Company Update

  • Initiating Coverage

]]> Scott Lee 055550.KS 086790.KS 004940.KS 105560.KS 053000.KS 024110.KS 005280.KS 005270.KS 029780.KS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51888|native|public|20091119114156 Thu, 19 Nov 2009 <![CDATA[Global Bank Valuations 19-Nov-2009]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer69972|native|public Regions
  • Global


Sectors
  • Global Banks

  • Global Diversified Financial

  • Global Financial

  • Global Financial Services

  • Global Banks, Ex-S&L


Subjects
  • Industry Overview

]]> Philip Finch http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer69972|native|public|20091119103231 Thu, 19 Nov 2009 <![CDATA[Global Bank Valuations 19-Nov-2009]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer69971|native|public Regions
  • Global


Sectors
  • Global Banks

  • Global Diversified Financial

  • Global Financial

  • Global Financial Services

  • Global Banks, Ex-S&L


Subjects
  • Industry Overview

]]> Philip Finch http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer69971|native|public|20091119102937 Thu, 19 Nov 2009 <![CDATA[Swiss Private Banks Quarterly "Justified underperformance" 19-Nov-2009 Zieschang]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer69930|native|public Regions
  • Switzerland

  • Europe Including UK

  • Europe Ex. UK

  • Global

  • UBSW EMEA


Sectors
  • Swiss Banks

  • European Banks

  • European Ex. UK Banks

  • Global Banks

  • Swiss Financial

  • European Financial

  • European Ex. UK Financial

  • Global Financial

  • Swiss Banks, Ex-S&L

  • European Banks, Ex-S&L

  • European Ex. UK Banks, Ex-S&L

  • Global Banks, Ex-S&L


Companies
  • BAER.VX Julius Baer Group

  • CSGN.VX CS Group

  • VPB.S VP Bank

  • VONN.S Vontobel

  • LLB.S LLB

  • BSAN.S Bank Sarasin

  • SGKN.S SGKB

  • EFGN.S EFG International

  • PGHN.S Partners Group

  • VZN.S VZ Holding

  • GAMH.VX GAM Holding


Subjects
  • Industry Overview

]]> Philipp Zieschang BAER.VX CSGN.VX VPB.S VONN.S LLB.S BSAN.S SGKN.S EFGN.S PGHN.S VZN.S GAMH.VX http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer69930|native|public|20091119091700 Thu, 19 Nov 2009 <![CDATA[Banco de Oro "Securing its franchise [EXTRACT]" (Buy) Olonan]]> http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51882|native|public Regions
  • Global

  • Emerging Markets

  • Asia

  • Philippines

  • Asia Pacific

  • Asia Pacific Ex. JP

  • Asia Emerging


Sectors
  • Global Banks

  • Global Financial

  • Global Banks, Ex-S&L

  • Asian Banks

  • Philippines Banks

  • Asian Financial

  • Philippines Financial

  • Philippines Banks, Ex-S&L

  • Asian Banks, Ex-S&L

  • Asian Pacific Banks, Ex-S&L

  • Asian Pacific Banks

  • Asian Pacific Financial

  • Asian Pacific Ex. JP Banks, Ex-S&L

  • Asian Pacific Ex. JP Banks

  • Asian Pacific Ex. JP Financial

  • Asia Emerging Banks, Ex-S&L

  • Asia Emerging Banks

  • Asia Emerging Financial


Companies
  • BDO.PS Banco de Oro

  • SM.PS SM Investments


Subjects
  • Company Update

  • Morning Note

]]> Minda Olonan BDO.PS SM.PS http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev51882|native|public|20091119083612 Thu, 19 Nov 2009