Zimbabwean Utilities Defensive Blue Chips

Eurobank

Market Cap: €15.4b

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

Saudi Awwal Bank

Market Cap: ر.س66.0b

Provides banking and financial services in the Kingdom of Saudi Arabia.

E.SUN Financial Holding Company

Market Cap: NT$562.0b

Offers various financial banking products and services in Taiwan.

Banco de Sabadell

Market Cap: €15.3b

Provides banking products and services in Spain, the United Kingdom, and Mexico.

Vodacom Group

Market Cap: R284.8b

Provides communications products and services in South Africa, Egypt, Kenya, and internationally.

Banco Comercial Português

Market Cap: €15.1b

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

Enpara Bank

Market Cap: ₺810.9b

Provides banking services and products in Turkey.

Zimmer Biomet Holdings

Market Cap: US$17.3b

Operates as a medical technology company worldwide.

Samsung Fire & Marine Insurance

Market Cap: ₩25.8t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Varun Beverages

Market Cap: ₹1.6t

Manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana.

Elia Group

Market Cap: €14.9b

Develops and operates as a transmission system operator in Belgium and Germany.

Krung Thai Bank

Market Cap: ฿566.0b

Engages in commercial banking business in Thailand and internationally.

Mora Telematika Indonesia

Market Cap: Rp305.8t

Operates as a telecommunications infrastructure and network provider in Indonesia and Singapore.

Ingenic SemiconductorLtd

Market Cap: CN¥114.2b

Engages in the research and development, design, and sale of integrated circuit chip products in China and internationally.

Hua Nan Financial Holdings

Market Cap: NT$540.7b

Provides financial services in Taiwan and internationally.

Puya Semiconductor (Shanghai)

Market Cap: CN¥112.8b

Engages in research, development, design, and sale of non-volatile memory chips and memory-based derivative chips in China and internationally.

Bank Polska Kasa Opieki

Market Cap: zł61.7b

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

Beijing E-Town Semiconductor Technology

Market Cap: CN¥111.0b

Beijing E-Town Semiconductor Technology Co., Ltd.

Bank of Hangzhou

Market Cap: CN¥110.3b

Provides various banking products and services in China.

Luzhou LaojiaoLtd

Market Cap: CN¥110.3b

Produces and sells alcoholic products in China and internationally.

Amkor Technology

Market Cap: US$16.2b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

SDIC Power Holdings

Market Cap: CN¥109.9b

Engages in the electricity generation business in China.

Kasikornbank

Market Cap: ฿540.7b

Provides commercial banking products and services in Thailand and internationally.

Tongfu MicroelectronicsLtd

Market Cap: CN¥109.5b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥108.9b

Beijing Huafeng Test & Control Technology Co.,Ltd.

ING Bank Slaski

Market Cap: zł60.3b

Provides various banking products and services for retail clients and businesses in Poland.

Bank of Beijing

Market Cap: CN¥108.0b

Provides various banking services to individuals and corporates in China.

Banco Santander-Chile

Market Cap: CL$14.8t

Provides commercial and retail banking products and services in Chile.

ASR Nederland

Market Cap: €13.9b

Provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands.

mBank

Market Cap: zł59.7b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

KGI Financial Holding

Market Cap: NT$510.1b

Operates as a financial company in Taiwan and internationally.

Hua Xia Bank

Market Cap: CN¥107.1b

Provides commercial banking services in China and Hong Kong.

Power Assets Holdings

Market Cap: HK$123.3b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally.

Kansai Electric Power Company

Market Cap: JP¥2.6t

Engages in electricity, heat supply, telecommunication, and gas supply in Japan.

Airtel Africa

Market Cap: UK£11.7b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.