Philippine banks outclass Southeast Asian peers in valuations

April 22, 2015 6:27 AM

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GRAPHIC: Earnings, valuations: By Neil Jerome Morales and Patturaja Murugaboopathy MANILA/BENGALURU, April 22 (Reuters) - The Philippines' biggest banks may be the smallest lenders in Southeast Asia by market cap, but they are now more expensive than their peers in the region, stoked by a steady inflow of foreign investor funds and a bullish economic outlook.

The median price-to-earnings (PE) ratio of Bank of the Philippine Islands (BPI), BDO Unibank Inc, Metropolitan Bank & Trust, Philippine National Bank and Security Bank rose to 14.53 this month, the highest since June 2013, Reuters StarMine data shows. In contrast, the median PE ratio of their region...

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