10 out of 15 worst-performing bank stocks in Asia-Pacific are Indian — PNB, YES Bank, Central Bank of India, IDBI among them

Punjab National Bank (L), YES Bank (C) and IDBI Bank (R) among the 10 worst performing Indian bank stocks among S&P Global Market Intelligence's assessment of 15 Asia-Pacific banks with the lowest returns between July to SeptemberBCCL/BI India
  • 10 out of the 15 worst-performing banks between July and September were Indian banks, according to S&P Global Market Intelligence.
  • YES Bank was at the bottom of the list, with the total returns plummeting nearly 50%.
  • Other Indian banks with the worst returns include Punjab & Sind Bank, Indian Overseas Bank, Union Bank of India, IDBI Bank, and Punjab National Bank.
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Indian banks dominated the list of 15 worst-performing bank stocks in Asia-Pacific put out by S&P Global Market Intelligence. All of them logged in double-digit total negative returns between July and September.

10 out of the 15 banks were Indian, with YES Bank at the bottom of the list with returns dipping by 48.63%, which is hardly surprising considering the YES Bank scandal followed by the COVID-19 pandemic.

Meanwhile, smaller banks from Bangladesh, Pakistan, and China were among the best-performing stocks for the three months ending on September 30.

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Here’s the full list of the Indian banks on S&P Global Market Intelligence's list of 15 bank stocks in Asia-Pacific with the lowest total returns between July to September:

RankBankTotal returns (July-Sep)
1YES Bank-49.63%
2Punjab & Sind Bank-28.54%
4Indian Overseas Bank-24.57%
5Union Bank of India-23.39%
6IDBI Bank-20.66%
7Central Bank of India-20.14%
9Punjab National Bank-17.84%
10Jammu and Kashmir Bank-17.82%
11UCO Bank-17.76%
15Bank of India-16.77%
(Source:S&P Global Market Intelligence)

Sixteen of the 20 largest Asia-Pacific banks saw declines in their market capitalization in the last three months, according to S&P. “Indian bank stocks have been on a declining trend in 2020, with major lenders falling between 12% to more than 50% between January 1 to August 31,” said the report.

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Not a single Indian bank featured among the 15 best banking stocks with the highest returns.

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