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PSU bank stocks leading Asia-Pacific peers

PSU bank stocks leading Asia-Pacific peers

New Delhi: India’s state-owned lenders posted the best-performing bank stocks among the country’s Asia-Pacific peers in the quarter ended September 30, reflecting growing investor interest and the banks’ stronger financials metrics, according to S&P Global Market Intelligence.

Indian state-owned banks occupied 10 of the top-15 slots, dominating the rankings for the second straight quarter. Indian Overseas Bank’s share price rose 91.60 per cent in the quarter to sit atop the list of 15 Asia-Pacific banks, while Central Bank of India was in second spot with a rise of 76.59 per cent, according to data compiled by S&P Global Market Intelligence.

Indonesia’s PT Bank Nationalnobu Tbk ranked third, with share price growth of 74.80 per cent.

Two Japanese banks and one each from Pakistan and Sri Lanka filled the remaining slots.

Ten banks from East Asia ranked among the 15 Asia-Pacific bank stocks with the lowest total returns, with the remaining slots taken by three banks from Indonesia and one each from the Philippines and Vietnam, S&P Global Market Intelligence data shows.

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