Bank Valuation: Understanding Key Ratios and Metrics
Tom Spencer
OCTOBER 13, 2023
Image 1: Illustrative example of a bank’s net interest income and margin Source: CIBC’s 2022 Annual Report 1.2 In a scenario where earnings estimates are declining (usually driven by weakening credit conditions or weak capital markets), investors tend to focus on the price-to-book (P/B) valuation methodology.
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