American Depositary Receipts

Your gateway to global stocks

American Depositary Receipts, usually referred to as ADRs, are essentially a contract that represents the shares of a non-U.S. company and are issued by U.S. depositary banks who own these shares. These foreign shares held by the U.S. bank are referred to as “American Depositary Shares”.

ADRs serve two purposes. Firstly they allow a non-U.S. company to expand their stockholders’ to include Americans which in turn provides these foreign companies with additional capital. Secondly ADRs allow stock investors to invest in these foreign companies by using their normal stock broking account.

ADRs trade on the U.S. stock markets and as such their stock prices are quoted in U.S. dollars. The stock price takes into account any currency fluctuations between the U.S. dollar and the foreign countries currency.

Stock investors can actually take on the physical holding of these shares by exercising the ADR contract. This means that the U.S. depositary bank will transfer stockholder ownership from the bank into the investor’s name and therefore the investor will be on the foreign company’s books as a stockholder rather than the banks name.

Long-term investors (especially buy and hold investors), may transfer the ownership of the foreign stock into their name to avoid paying the annual fee typically charged by the U.S. depositary bank. The disadvantage of exercising an ADR is that should the investor decide to sell their foreign stock, they will need to find a stock broker who deals with the foreign company’s stock exchange. Also any dividends received now will be in the foreign currency which the investor will have to convert.

The investor should keep in mind that in buying an ADR, the investor is buying a contract and not the stock. Ownership of the stock is only achieved if the investor exercises the ADR which then transfers ownership from the bank to the investor.

When an investor buys an ADR – they are

buying a contract, not the stock

ADRs may represent one foreign share for one ADR share, but quite often they are represented by a ratio. This is done to allow the ADR to be priced at a level that is more common of the U.S. stock market prices. For example, one share of an ADR may represent three shares of the foreign stock.

A depositary bank may charge a fee, called a custody fee, for the services it performs such as registration, compliance, dividend distribution and record keeping services. It is common practice for the ADR depositary bank to deduct this custody fee from the dividend payments. However not all foreign companies pay a dividend and therefore the custody fee is collected from the investor via their stock broker with the fee showing up on the investor’s brokerage account statement.

Investing in an ADR involves a foreign company whose business dealings are in the foreign country and is therefore subject to the economic environment of that country. Just because the U.S. economy may be performing strongly does not mean that the foreign country’s economy is in good shape. Investors need to consider the current and expected future economic conditions of that foreign country as this may have an impact on the ADRs performance.

ADRs allow investors to invest in foreign companies using their home currency and they are easily bought and sold on a stock exchange and are held in the investors normal stock broking account.

The decision whether to invest in an ADR is dependant on whether the investor is seeking to invest in a foreign owned company, which is the purpose of the ADR.

A current list of foreign companies with ADRs trading on the NYSE or NASDAQ markets is shown below in Table 2. (Data: April 2017). The table also shows the ADRs one year and five annual gains where available.

ADR List

SymbolCompanyCountryIssuerAnnual Gain5-year Annual Gain
AAAPAdvanced Accelerator Applications S.A.FranceBNY14%
ABBABB LimitedSwitzerlandCiti18%5%
ABEVAmbev S.A.BrazilBNY8%-31%
ACHAluminum Corporation of China LimitedChinaBNY51%1%
ADAPAdaptimmune Therapeutics plcUKCiti-44%
AEGAegon N.V.NetherlandsCiti-11%2%
AKTXAkari Therapeutics PlcUKDB-11%
AMCNAirMedia Group Inc.ChinaJPM-50%-2%
AMFWAMEC Foster Wheeler plcUKDB2%
AMOVAmerica Movil S.A.B. de C.V.MexicoCiti-5%-10%
AMRNAmarin Corp. plcUKCiti65%-23%
AMXAmerica Movil S.A.B. de C.V.MexicoCiti-4%-10%
APOPCellect Biotechnology Ltd.IsraelBNY
APOPWCellect Biotechnology Ltd.IsraelBNY
ASMLASML Holdings N.V.NetherlandsJPM40%21%
ASNDAscendis Pharma A/SDenmarkBNY58%
ASRGrupo Aeroportuario del Sureste, S.A. de C.V. (ASUR)MexicoBNY30%19%
ASXAdvanced Semiconductor Engineering, Inc. – (ASE Corp.)TaiwanCiti25%5%
ATAIATA Inc.ChinaCiti-34%-10%
ATHMAutohomeChinaDB17%
ATVAcorn International, Inc.ChinaCiti69%18%
AUAngloGold Ashanti LimitedS. AfricaBNY-21%-20%
AUOAU Optronics Corp.TaiwanCiti40%-2%
AVALGrupo Aval Acciones y Valores S.A.ColombiaJPM4%
AVDLAvadel Pharmaceuticals PlcIrelandBNY
AVHAvianca Holdings S.A.ColombiaBNY22%
AZNAstraZeneca plcUKCiti2%7%
AZULAzul S.A.BrazilCiti
BABAAlibaba Group Holding LimitedChinaCiti47%
BAKBraskem S.A.BrazilBNY54%7%
BBDBanco Bradesco S.A.BrazilBNY45%-5%
BBDOBanco Bradesco S.A.BrazilBNY28%-4%
BBLBHP Billiton plcUKCiti15%-13%
BBVABanco Bilbao Vizcaya Argentaria, S.A.SpainBNY15%4%
BCHBanco de ChileChileJPM17%-4%
BCSBarclays Bank plcUKJPM15%-4%
BFRBBVA Banco Frances S.A.ArgentinaBNY-14%31%
BGNEBeiGene, Ltd.ChinaCiti35%
BHPBHP Billiton LimitedAustraliaCiti19%-13%
BIDUBaidu, IncChinaBNY-1%7%
BITABitAuto Holdings CompanyChinaCiti24%46%
BLRXBioLineRXIsraelBNY-11%-21%
BMABanco Macro S.A.ArgentinaBNY31%41%
BNTCBenitec Biopharma LimitedAustraliaBNY62%
BNTCWBenitec Biopharma LimitedAustraliaBNY-66%
BORNChina New BorunChinaBNY-25%-18%
BPBP plcUKJPM9%-4%
BRFSBRF S.A.BrazilBNY-7%-8%
BSACBanco Santander ChileChileBNY26%-6%
BSBRBanco Santander Brasil SABrazilBNY75%0%
BSMXGrupo Financiero Santander Mexico, S.A.B. de C.V. (“”Santander Mexico””)MexicoJPM5%
BTBT Group plcUKJPM-36%3%
BUDAnheuser – Busch InBev SA/NVBelgiumBNY-12%9%
BVNCompania de Minas Buenaventura S.A.PeruBNY40%-22%
BVXVBiondVax Pharmaceuticals LtdIsraelBNY63%
BVXVWBiondVax Pharmaceuticals LtdIsraelBNY
BZUNBaozun Inc.ChinaJPM161%
CAJCanon IncJapanJPM5%-7%
CBDCompanhia Brasileria de DistribuicaoBrazilJPM47%-15%
CCIHChinaCache International Holdings Ltd.ChinaCiti-86%-27%
CCMConcord Medical Services Holdings LimitedChinaJPM-7%3%
CCUCompania Cervecerias Unidas S.A. (Cia Cervecerias Unidas SA)ChileJPM15%-3%
CEAChina Eastern Airlines Corp., Ltd.ChinaBNY-2%12%
CEOCNOOC LimitedChinaJPM-9%-11%
CGGCGGFranceBNY-76%-62%
CHAChina Telecom Corporation LimitedChinaBNY-1%-1%
CHLChina Mobile LimitedChinaBNY-8%0%
CHTChunghwa Telecom Co., Ltd.TaiwanJPM0%2%
CHUChina Unicom (Hong Kong) LimitedChinaBNY11%-5%
CIBBanColombia S.A.ColombiaBNY5%-10%
CIGCEMIG – Companhia Energetica De Minas GeraisBrazilCiti48%-27%
CLLSCellectis S.A.FranceCiti-18%
CMCMCheetah Mobile IncChinaBNY-32%
CNCOCencosudChileBNY6%-15%
CNTFChina Techfaith WirelessChinaBNY-43%-20%
COEChina Online Education GroupChinaDB
CPACCementos Pacasmayo S.A.A (“”Pacasmayo Cement””)PeruJPM34%-3%
CPLCPFL Energia S.A.BrazilCiti52%-10%
CRESYCresud S.A.C.I.F.ArgentinaBNY99%17%
CRHCRH plcIrelandBNY26%13%
CRTOCriteoFranceBNY25%
CSCredit Suisse GroupSwitzerlandBNY1%-9%
CTRPCTrip.com International Ltd.ChinaBNY7%36%
CUKCarnival plcUKJPM17%13%
CXCementos Mexicanos, S.A. de C.V. (CEMEX)MexicoCiti25%6%
CYADCelyad S.A.BelgiumCiti-39%
CYOUChangyou.comChinaBNY59%5%
DBVTDBV Technologies S.A.FranceCiti-1%
DCMNTT DOCOMO, Inc.JapanBNY-3%7%
DEODiageo plcUKCiti7%3%
DLChina Distance EducationChinaDB-21%27%
DQDaqo New EnergyChinaJPM-23%14%
DRDDRDGOLD LimitedS. AfricaBNY-12%-10%
EEni S.p.A.ItalyBNY0%-6%
ECEcopetrol S.AColombiaJPM-1%-32%
EDAPEDAP Technomed S.A.FranceBNY-25%5%
EDNEmpresa Distribuidora y Comercializadora Norte S.A. – EdenorArgentinaBNY134%74%
EDUNew Oriental Education & Technology Group, Inc.ChinaDB67%21%
EHICeHi Car Services LtdChinaJPM-4%
ELPCompanhia Paranaense de Energia (COPEL)BrazilBNY17%-18%
ENIAEnel Americas S.A.ChileCiti20%
ENICEnel Chile S.A.ChileCiti-12%
EOCAEndesa Americas S.A.ChileCiti
EOCCENEL GENERACION CHILE S.A. (Endesa Chile)ChileCiti-14%
ERICEricsson (Telefonaktiebolaget LM Ericsson)SwedenDB-23%-8%
ERJEmbraer-Empresa Brasileira de Aeronautica S.A.BrazilJPM-19%-11%
FANHCNINSURE Inc.ChinaJPM
FBRFibria Celulose S.A.BrazilCiti0%3%
FENGPhoenix New Media LimitedChinaJPM-15%-12%
FLYFly Leasing Ltd.IrelandDB9%1%
FMSFresenius Medical Care AGGermanyBNY0%5%
FMXFomento Economico Mexicana S.A.B. de C.V.MexicoBNY-3%2%
FORTYFormula Systems (1985) Ltd.IsraelBNY27%20%
FTEOFronteo Inc.JapanBNY
FWPForward Pharma A/SDenmarkBNY-12%
GDSGDS Holdings Ltd.ChinaJPM
GENEGenetic Technologies LimitedAustraliaBNY-53%-39%
GFAGafisa S.A.BrazilCiti-39%-26%
GFIGold Fields Ltd.S. AfricaBNY-13%-23%
GGALGrupo Financiero Galicia S.A.ArgentinaBNY37%48%
GGBGerdau, S.A.BrazilJPM54%-20%
GLPGGalapagos NVBelgiumCiti88%
GOLGol Linhas Aereas Inteligentes S.A.BrazilBNY365%-10%
GOLDRandgold Resources Ltd.UKCiti-5%-1%
GRAMGrana y Montero S.A.A.PeruJPM-48%
GRFSGrifols SASpainDB29%18%
GROAgria CorporationChinaBNY
GRVYGravity Co. Ltd.KoreaBNY530%3%
GSHGuangshen Railway Company LimitedChinaJPM30%9%
GSKGlaxoSmithKline plcUKBNY-4%-2%
GSUMGridsum Holding, Inc.ChinaCiti
GWPHGW Pharmaceuticals plcUKCiti39%
HCMHutchison China MediTech LimitedHong KongDB48%
HDBHDFC Bank LimitedIndiaJPM28%19%
HIMXHimax TechnologiesTaiwanBNY-30%29%
HLGHailiang Education Group Inc.ChinaDB-5%
HMCHonda Motor Co., LtdJapanJPM1%-4%
HMYHarmony Gold Mining Co. LtdS. AfricaDB-31%-26%
HNPHuaneng Power International, Inc.ChinaBNY-11%4%
HQCLHanwha Q CELLS Co., Ltd.ChinaBNY-48%-10%
HSBCHSBC Holdings plcUKBNY24%-2%
HTHTChina Lodging Group Ltd.ChinaCiti90%39%
IBAIndustrias Bachoco S.A.B. de C.V.MexicoBNY8%21%
IBNICICI Bank LimitedIndiaDB12%6%
IHGIntercontinental Hotels Group plcUKJPM27%16%
IIJIInternet Initiative Japan Inc.JapanBNY-10%-1%
IMOSChipMOS TECHNOLOGIES INC.TaiwanCiti-2%5%
INFYInfosys Technologies Ltd.IndiaDB-24%4%
INGING Groep N.V.NetherlandsJPM30%18%
IRCPIrsa Propiedades Comerciales S.A.ArgentinaBNY22%30%
IRSIRSA, Inversiones y Representaciones S.A.ArgentinaBNY72%27%
ITCBItau CorpBancaChileDB10%
ITUBItau Unibanco Holding S.ABrazilBNY39%-3%
IXORIX CorporationJapanCiti3%11%
JASOJA Solar Holdings Co., Ltd.ChinaBNY-25%0%
JDJD.com, Inc.ChinaDB28%
JHXJames Hardie Industries plcAustraliaDB16%17%
JKSJinkoSolar HoldingChinaJPM-23%25%
JMEIJumei International Holding LimitedChinaBNY-42%
JMUJMU LimitedChinaCiti
JOBS51job, Inc.ChinaJPM31%6%
JPJupai Holdings Ltd.ChinaJPM-7%
JRJCChina Finance Online Co. LimitedChinaJPM-52%6%
KANGiKang Healthcare Group IncChinaJPM-32%
KBKB Financial Group IncKoreaJPM46%5%
KEPKorea Electric Power Corporation (KEPCO)KoreaCiti-24%16%
KOFCoca-Cola FEMSA, S.A.B. de C.V.MexicoBNY-14%-7%
KONEKingtone Wirelessinfo Solultion Holding LtdChinaBNY64%56%
KTKT CorporationKoreaCiti21%5%
KTOVKitov Pharmaceuticals Holdings Ltd.IsraelBNY-63%
KTOVWKitov Pharmaceuticals Holdings Ltd.IsraelBNY-69%
KYOKyocera CorporationJapanCiti13%3%
LEJULeju Holdings LtdChinaJPM-36%
LFCChina Life Insurance Company LimitedChinaDB26%2%
LFLLatam Airlines Group S.A.ChileJPM92%-14%
LITBLightInTheBoxChinaBNY-8%
LNLine CorporationJapanJPM
LNDBrasilAgro Companhia Brasileira de Propriedades AgricolasBrazilBNY15%
LPLLG Display Co., Ltd.KoreaCiti25%4%
LUXLuxottica Group S.p.A.ItalyDB9%11%
LXFRLuxfer Holdings PLCUKBNY-13%
LYGLloyds Banking Group plcUKBNY-13%12%
MBTMobile Telesystems PJSCRussiaJPM20%-10%
MDGSMedigus LtdIsraelBNY-85%
MESOMesoblast Ltd.AustraliaJPM30%
MFGMizuho Financial GroupJapanBNY14%3%
MIXTMiX Telematics LimitedS. AfricaBNY56%
MLCOMelco Resorts & Entertainment LtdHong KongDB
MOMOMomo Inc.ChinaDB131%
MTArcelorMittalLuxembourgCiti48%-14%
MTFBMotif Bio PlcUKBNY
MTLMechel PAORussiaDB158%-21%
MTLSMaterialiseBelgiumBNY43%
MTPMidatech Pharma plcUKDB-42%
MTUMitsubishi UFJ Financial Group, Inc.JapanBNY24%6%
MZORMazor RoboticsIsraelBNY177%
NBRVNabriva Therapeutics AGAustriaBNY20%
NCTYThe9 LimitedChinaBNY-55%-30%
NGGNational Grid plcUKBNY-8%4%
NICENice Systems Ltd.IsraelJPM5%13%
NMRNomura Holdings Inc.JapanBNY29%8%
NNDMNano Dimension Ltd.IsraelBNY-14%
NOAHNoah Holdings LimitedChinaCiti4%30%
NOKNokia CorporationFinlandCiti-8%8%
NQNQ Mobile Inc.ChinaDB-27%-20%
NTESNetease.com, IncChinaBNY109%36%
NTLNortel Inversora S.A.ArgentinaJPM16%11%
NTZNatuzzi S.p.A.ItalyBNY101%3%
NVGNNovogen LimitedAustraliaBNY-58%-16%
NVONovo Nordisk A/SDenmarkJPM-34%4%
NVSNovartis AGSwitzerlandJPM0%7%
OASMOasmia Pharmaceutical ABSwedenBNY-54%
OIIMO2Micro International LimitedChinaBNY72%-14%
OMABGrupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMA)MexicoJPM-3%23%
ORANOrange SAFranceJPM-4%3%
OSNOssen Innovation Co. Ltd.ChinaJPM-37%-8%
PACGrupo Aeroportuario del Pacifico, S.A.B. de C.V.MexicoBNY12%21%
PAMPampa Energia S.A.ArgentinaJPM177%54%
PBMDPrima BioMed LimitedAustraliaBNY-32%-36%
PBRPetroleo Brasileiro S.A. – PetrobrasBrazilBNY34%-17%
PHGKoninklijke Philips Electronics N.V.NetherlandsCiti28%11%
PHIPLDT Inc.PhilippinesJPM-11%-10%
PKXPOSCOKoreaCiti20%-7%
PRANPrana Biotechnology LimitedAustraliaBNY-26%-21%
PSOPearson PlcUKBNY-31%-15%
PTNRPartner Communications Company Ltd.IsraelCiti0%-7%
PTRPetrochina Co. Ltd.ChinaBNY-2%-14%
PUKPrudential plcUKJPM6%12%
PZEPetrobras Argentina S.A.ArgentinaJPM80%1%
QIWIQIWIRussiaBNY19%
RBSRoyal Bank of ScotlandUKBNY-10%-3%
RDHLRedHill BiopharmaIsraelBNY-22%
RDYDr. Reddy’s Laboratories LimitedIndiaJPM-12%4%
RELXRELX PLCUKCiti12%
RENNRenren Inc.ChinaCiti-53%-25%
RENXRELX NVNetherlandsCiti13%
RIORio Tinto plcUKJPM25%-7%
RYAAYRyanair Holdings plcIrelandBNY13%22%
SANBanco Santander, S.A.SpainBNY35%1%
SAPSAP SEGermanyDB28%9%
SBGLSibanye Gold LtdS. AfricaBNY-42%
SBSSABESP: Companhia Saneamento Basico de Sao PaoloBrazilBNY31%-6%
SFUNFang Holdings Ltd.ChinaJPM-40%-2%
SHGShinhan Financial Group Co., Ltd.KoreaCiti16%4%
SHISinopec Shanghai Petrochemical Company LimitedChinaBNY18%20%
SHPGShire plcUKCiti-4%12%
SIDCompanhia Siderurgica Nacional – CSNBrazilJPM-30%-23%
SIFYSify Technologies LimitedIndiaCiti-31%-22%
SIMOSilicon Motion Technology Corp.TaiwanBNY14%17%
SKMSK Telecom Co., Ltd.KoreaCiti27%13%
SKYSSky Solar Holdings, Ltd.ChinaCiti-43%
SMFGSumitomo Mitsui Financial GroupJapanCiti11%3%
SMISemiconductor Manufacturing International Corporation (SMIC)ChinaJPM39%19%
SMMTSummit Therapeutics plcUKBNY49%
SNDESundance Energy Australia Ltd.AustraliaBNY
SNESony CorporationJapanCiti31%15%
SNNSmith & Nephew plcUKDB-3%11%
SNPChina Petroleum & Chemical Corporation (SINOPEC)ChinaCiti20%1%
SNYSanofiFranceJPM5%4%
SOLReneSola Ltd.ChinaBNY-66%-23%
SPISPI Energy Co. Ltd.ChinaBNY-89%
SPILSiliconware Precision Industries Co., Ltd.TaiwanJPM7%7%
SQMSociedad Quimica y Minera de Chile S.A.ChileBNY74%-9%
SQNSSequans Communications SAFranceBNY40%9%
SSLSasol LtdS. AfricaBNY-2%-8%
STMSTMicroelectronics N.V.NetherlandsJPM183%22%
STOStatoil ASANorwayDB1%-9%
STVChina Digital TV Holding Co.ChinaDB0%-15%
SUPVGrupo Supervielle S.A.ArgentinaBNY
SYTSyngenta AGSwitzerlandBNY12%6%
TEDUTarena International, Inc.ChinaCiti67%
TEFTelefonica S.A.SpainCiti5%-5%
TEOTelecom Argentina S.A.ArgentinaJPM23%9%
TEVATeva Pharmaceutical Industries Ltd.IsraelJPM-45%-8%
TGSTransportadora de Gas del Sur, S.A. (TGS)ArgentinaBNY134%45%
TITelecom Italia S.p.A.ItalyJPM-6%-4%
TIGTiGenix NVBelgiumDB
TKCTurkcell Iletisim Hizmetleri A.S.TurkeyCiti-16%-7%
TLKPT Telekomunikasi Indonesia TbkIndonesiaBNY17%13%
TLNDTalend SAFranceJPM
TMToyota Motor CorporationJapanBNY1%6%
TOTTotal S.A.FranceJPM6%2%
TOURTuniu CorpChinaJPM-29%
TRIBTrinity Biotech plcIrelandBNY-48%-13%
TRPXTherapix BiosciencesIsraelBNY
TRVGTrivago NVNetherlandsDB
TSTenaris S.A.LuxembourgDB24%-3%
TSMTaiwan Semiconductor Manufacturing Company Ltd.TaiwanCiti32%16%
TSUTIM Participacoes S.A.BrazilJPM54%-11%
TTMTata Motors Ltd.IndiaCiti13%3%
TVGrupo Televisa, S.A.B.MexicoBNY-3%5%
TXTernium S.A.ArgentinaBNY38%1%
UGPUltrapar Participacoes S.A.BrazilBNY11%0%
ULUnilever plcUKDB11%8%
UMCUnited Microelectronics Corp. (UMC)TaiwanJPM-4%-6%
UNUnilever NVNetherlandsDB16%8%
VALEVale S.A.BrazilCiti76%-17%
VCOVina Concha y Toro S.A.ChileBNY-3%-4%
VDTHVideocon d2h LtdIndiaDB38%
VEDLVedanta LimitedIndiaCiti142%13%
VEONVeonNetherlandsBNY
VIPSVipshop Holdings Ltd.ChinaDB7%93%
VISNVisionChina MediaChinaBNY
VIVTelefonica Brasil SABrazilCiti29%-12%
VJETvoxeljet AGGermanyCiti-47%
VLRSControladora Vuela Compania de Aviacion S.A.B. de C.V.MexicoBNY-39%
VNET21 Vianet Group, Inc.ChinaCiti-73%-14%
VODVodafone Group plcUKDB-21%-1%
VRNAVerona Pharma plcUKCiti
WBWeibo CorporationChinaJPM124%
WBAI500.comChinaDB-28%
WBKWestpac Banking CorporationAustraliaBNY9%2%
WFWoori BankKoreaCiti45%5%
WITWipro LimitedIndiaJPM-21%0%
WNSWNS HoldingsIndiaDB-4%22%
WPPGYWPP plcUKCiti-5%10%
WUBA58.com Inc.ChinaCiti-29%
XINXinyuan Real Estate Co., Ltd.ChinaJPM-6%7%
XNETXunlei LimitedChinaBNY-48%
XNYChina Xiniya Fashion LtdChinaDB20%-25%
XRFChina Rapid Finance LimitedChinaCiti
XRSTAL Education GroupChinaJPM
XTLBXTL Biopharmaceuticals Ltd.IsraelBNY-48%-2%
YGEYingli Green Energy Holding Co. Ltd.ChinaJPM-47%-41%
YINYintech Investment Holdings Ltd.ChinaBNY20%
YPFYPF Sociedad AnonimaArgentinaBNY32%13%
YRDYirendai Ltd.ChinaDB98%
YYYY Inc.ChinaDB-26%
YZCYanzhou Coal Mining Company LimitedChinaBNY
ZNHChina Southern Airlines Co., Ltd.ChinaBNY8%9%
ZPINZhaopin LimitedChinaJPM13%
ZTOZTO Express (Cayman) Inc.ChinaJPM
ZXChina Zenix Auto InternationalChinaBNY53%-16%

ADR issuers

  • BNY – BNY Mellon
  • Citi   – Citigroup
  • DB    – Deutsche Bank
  • JPM – JP Morgan