EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Creation of Net New NPLs: 700 Banks analysed

Financials

Creative Portfolios

Paul Hollingworth reveals that of the large EM banks, Itau Unibanco and Santander Brasil are producing a prodigious quantity of NNNPLs relative to their Equity. Of the large global systemic banks, Banco Santander stands out as a vulnerable entity (trouble stems mainly from LATAM). Broadly, it appears that banks in India, Peru, Colombia, South Africa and Brazil are generating a swelling quantity of NNNPLs. Conversely, Greece is reducing NNNPLs at a phenomenal rate.

Edition: 128

- 04 February, 2022