DBS, Itau among emerging market banks to watch, Barron’s says

Emerging market banks aren’t immune to the turmoil sweeping their Western peers. They are holding up better, though, Craig Mellow writes in this week’s edition of Barron’s. Shares in Singapore’s biggest bank, DBS Group (DBSDY), have held up even since March 9, when news of SVB’s collapse catalyzed market calamity, the author notes. Indian investor favorite HDFC Bank (HDB) is off 5%; Itau Unibanco Holding (ITUB), Brazil’s top private financier, is down 8%. That compares with a 10% selloff for BNP Paribas (BNPQY), the largest bank in the Europe Union, and 14% at Bank of America (BAC). Distance from the crisis epicenter may explain part of this outperformance, but not all, the publication adds. Reference Link