A Financial Times article “China banks eclipse US rivals” reports:
“Chinese banks have cemented their position as the most highly valued financial institutions, taking four of the top five slots in a ranking of banks’ share prices as a multiple of their book values.
“Over the past six years, the average price-to-book value of the biggest 50 banks has halved from two to one… Most western banks are trading at well below their book value. …”
To read the rest of the article, click here.