Good (Bad) Banks and Good (Bad) Investments: At the right price.
Musings on Markets
MAY 7, 2023
Consequently, you can only value the equity in a bank, and by extension, the only pricing multiples you can use to price banks are equity multiples (PE, Price to Book etc.). Citi's banking business, though slow growing, remains lucrative with the higher interest rate spread in this sample.
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