The emerging market banks that avoided the market rout

  • Interest rates, commodity prices and Russia’s invasion of Ukraine have been key drivers of performance this year

  • The best-performing banks are in Saudi Arabia, Kuwait, Chile and Qatar. The worst: Poland, Kazakhstan, Russia, Vietnam

  • We highlight five names that have delivered 20%+ US$ returns: Alinma Bank, Banco de Chile, GF Inbursa, Isbank and QIB

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