The collapses of the Silicon Valley Bank and Signature Bank in March, followed by the failure of the First Republic Bank in April, the second-biggest bank collapse in U.S. history, have caused a sudden loss of confidence in the U.S. banking system, prompting bank runs and forcing the government to offer extra support to the system.
With the U.S. banking crisis far from over, investors could consider adding quality foreign bank stocks China Minsheng Banking Corp., Ltd. (CMAKY) and Grupo Financiero Galicia S.A. (GGAL) to their watchlist this week. However, it seems wise to steer clear of the fundamentally weak stock, Banco Santander-Chile (BSAC), now.
