Global Banks Undervalued over 20% based on DCF

KB Financial Group

Market Cap: ₩60.8t

Provides financial products and services in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally.

ABN AMRO Bank

Market Cap: €31.2b

Provides various banking products and financial services to retail, private, and corporate banking clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

Market Cap: zł134.6b

Provides various banking products and services in Poland and internationally.

Huntington Bancshares

Market Cap: US$35.4b

Operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services.

M&T Bank

Market Cap: US$34.4b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

Shinhan Financial Group

Market Cap: ₩49.8t

Provides financial products and services in South Korea, Vietnam, and Japan.

Resona Holdings

Market Cap: JP¥5.3t

Through its subsidiaries, engages in the provision retail and commercial banking products and services in Japan and internationally.

Svenska Handelsbanken

Market Cap: SEK 288.9b

Provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally.

Citizens Financial Group

Market Cap: US$29.0b

Operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions in the United States.

TS Financial Holding

Market Cap: NT$916.3b

Provides various financial products and services.

Sumitomo Mitsui Trust Group

Market Cap: JP¥4.5t

Operates as a trust bank in Japan and internationally.

Regions Financial

Market Cap: US$25.4b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

AIB Group

Market Cap: €21.8b

Provides banking and financial products and services to personal, business, and corporate customers in the Republic of Ireland, the United Kingdom, and internationally.

KeyCorp

Market Cap: US$24.4b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

First Citizens BancShares

Market Cap: US$23.5b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp418.6t

Provides various banking products and services in Indonesia and internationally.

Bank Mandiri (Persero)

Market Cap: Rp376.7t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

China Minsheng Banking

Market Cap: CN¥140.6b

Provides banking products and services in the People's Republic of China.

CIMB Group Holdings Berhad

Market Cap: RM 82.1b

Provides various banking products and services in Malaysia and internationally.

Bank of Ireland Group

Market Cap: €16.8b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

Erste Bank Polska

Market Cap: zł69.4b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

Mizrahi Tefahot Bank

Market Cap: ₪54.9b

Provides various banking services in Israel and internationally.

Eurobank

Market Cap: €15.6b

Provides retail, corporate and private banking, asset management, treasury and capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

Banco Comercial Português

Market Cap: €15.4b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

East West Bancorp

Market Cap: US$17.5b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

E.SUN Financial Holding Company

Market Cap: NT$562.0b

Offers various financial banking products and services in Taiwan.

Krung Thai Bank

Market Cap: ฿566.0b

Engages in commercial banking business in Thailand and internationally.

Bank Polska Kasa Opieki

Market Cap: zł61.8b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

Bank of Hangzhou

Market Cap: CN¥110.3b

Provides various banking products and services in China.

National Bank of Greece

Market Cap: €13.9b

Provides banking, financial products, and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom, and internationally.

Bank of Beijing

Market Cap: CN¥108.0b

Provides various banking services to individuals and corporates in China.

Bankinter

Market Cap: €13.6b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

BAWAG Group

Market Cap: €13.6b

Operates as a holding company for BAWAG P.S.K.

Pinnacle Financial Partners

Market Cap: US$14.7b

Operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States.

Piraeus Bank

Market Cap: €11.3b

Provides various banking products and services in Greece, Europe, and internationally.

Yokohama Financial Group

Market Cap: JP¥2.1t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.