Lloyds Banking Group PLC

LLOY: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Stress Returns To the European Banking System; Deutsche Bank Taking the Biggest Hit

Niklas Kammer

Mar 24, 2023

Stress has returned to the European banking system less than a week after a solution for Credit Suisse had been announced. Shares in European banks have traded down through March 24 around midsingle digits, with Deutsche Bank taking the brunt of it, down 15% at its lowest point intraday. We maintain our fair value estimates and moat ratings across our European banking coverage. Allianz remains our Best Idea. Admiral is one of our top picks

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Lloyds Banking Group PLC

Stress Returns To the European Banking System; Deutsche Bank Taking the Biggest Hit

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