Global Banks Research Highlights — Week Ending Oct 09, 2026

This report provides a summary of research produced by J.P. Morgan Global Bank Equity Research for the week ending Oct 09, 2026. Key highlights include: Margin Drivers Monthly (Sep-26) showing margin drivers mostly positive with some reprieve on deposit spreads; Bank of Queensland FY26 result preview with trends to remain challenged but capital management/dividend yield could prop things up; Australian Banks noting weakening household resilience but not at alarming levels; U.S. Mid- and Small-Cap Banks M&A showing 40 bank deals in 3Q26 versus 50 in 2Q26 but larger average deal size; India Financials seeing RBI rate hike as positive for banks with earnings upgrades to follow; HSBC & StanChart with revenue momentum holding but higher rates limiting HSBC's buyback; Santander reinstated at Neutral; Brazil and Chile financials coverage refreshes; and Japan Banks expecting most banks to raise profit guidance at 2Q results. All prices/valuations are as of 08 Oct 2026.