Global Banks Undervalued based on future growth

Bank Negara Indonesia (Persero)

Market Cap: Rp118.1t

Provides various banking products and services in Indonesia, rest of Asia, New York, and Europe.

Lion Finance Group

Market Cap: UK£4.8b

Through its subsidiaries, provides banking and financial services with focus on the Georgian and Armenian markets.

Bank Millennium

Market Cap: zł24.0b

Provides various banking products and services in Poland.

Atlantic Union Bankshares

Market Cap: US$6.2b

Operates as the bank holding company for Atlantic Union Bank that provides banking and related financial products and services to consumers and businesses in the United States.

Grupo Aval Acciones y Valores

Market Cap: Col$20.5t

Provides a range of financial services and products in Colombia and Central America.

Hancock Whitney

Market Cap: US$6.1b

Operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers in the United States.

Rakuten Bank

Market Cap: JP¥929.7b

Provides internet banking products and services to individual, corporate, and sole proprietor customers in Japan.

Gunma Bank

Market Cap: JP¥910.5b

Provides various banking and financial services in Japan.

Qilu Bank

Market Cap: CN¥36.4b

Provides personal and corporate banking services in the People’s Republic of China.

Bank of Changsha

Market Cap: CN¥35.3b

Provides various banking products and services in China.

Associated Banc-Corp

Market Cap: US$5.1b

A bank holding company, provides various banking and nonbanking products and services to individuals and businesses in Wisconsin, Illinois, Missouri, Texas, and Minnesota.

Asia Commercial Bank

Market Cap: ₫131.5t

Provides various banking products and services to personal and business customers in Vietnam.

Metropolitan Bank & Trust

Market Cap: ₱294.6b

Provides various commercial and investment banking products and services in the Philippines, rest of Asia, the United States of America, and Europe.

Bank of Suzhou

Market Cap: CN¥32.0b

Provides commercial banking products and services in China.

Banco Itaú Chile

Market Cap: CL$4.2t

Provides various banking products and services in Chile and Colombia.

Commercial Bank (P.S.Q.C.)

Market Cap: ر.ق16.4b

Engages in the conventional banking, brokerage services, and credit card businesses in Qatar and internationally.

Bank of Chongqing

Market Cap: HK$35.1b

Provides various banking and services for corporate and individual customers in the People’s Republic of China.

Haci Ömer Sabanci Holding

Market Cap: ₺204.9b

Engages in the management and coordination of companies in the finance, manufacturing, and trade sectors in Turkey and internationally.

Bank Syariah Indonesia

Market Cap: Rp78.0t

Provides various commercial banking products and services for individuals and corporations in Indonesia.

Bank of East Asia

Market Cap: HK$33.1b

Provides various banking and related financial services.

NOBA Bank Group

Market Cap: SEK 40.1b

Provides financial and banking products and services in Sweden, Norway, Finland, Denmark, Germany, Spain, Ireland, and the Netherlands.

Independent Bank

Market Cap: US$4.1b

Operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States.

Renasant

Market Cap: US$4.0b

Operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, and fiduciary services to retail and commercial customers.

CVB Financial

Market Cap: US$4.0b

Operates as bank holding company for Citizens Business Bank, National Association, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals.

Bank of Qingdao

Market Cap: HK$31.3b

Provides personal and corporate banking, and financial market services in the People’s Republic of China.

First Interstate BancSystem

Market Cap: US$3.8b

Operates as a bank holding company for First Interstate Bank that provides a range of banking products and services in the United States.

Nicolet Bankshares

Market Cap: US$3.6b

Operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin, Michigan, and Minnesota.

TBC Bank Group

Market Cap: UK£2.5b

Through its subsidiaries, provides banking, leasing, insurance, brokerage, and card processing services to corporate and individual customers in Georgia, Azerbaijan, and Uzbekistan.

TowneBank

Market Cap: US$3.3b

Provides retail and commercial banking services for individuals, commercial enterprises, and professionals in the United States.

EQB

Market Cap: CA$4.7b

Through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada.

Sparebanken Norge

Market Cap: NOK 32.5b

A financial services company, provides banking and financing services.

Seacoast Banking Corporation of Florida

Market Cap: US$3.3b

Operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida.

Guaranty Trust Holding

Market Cap: ₦4.4t

Operates as a financial holding company for Guaranty Trust Bank Limited that provides commercial banking services in Nigeria, Ghana, Gambia, Sierra Leone, Liberia, Cote D'Ivoire, Kenya, Uganda, Rwanda, Tanzania, and the United Kingdom.

Jiangsu Changshu Rural Commercial Bank

Market Cap: CN¥21.7b

Jiangsu Changshu Rural Commercial Bank Co., Ltd.

Banc of California

Market Cap: US$3.2b

Operates as the bank holding company for Banc of California that provides banking and treasury management services in the United States.

Zenith Bank

Market Cap: ₦4.2t

Provides banking and other financial services to corporate and individual customers in Nigeria, rest of Africa, and internationally.