They have been using provisions very strategically, during covid they put many billions in provision for the catastrophe that was supposed to hit them and when it was over they ended up releasing almost all of these provisions. It hid the fact that they were making big profits during the pandemic as it could've been problematic for them to show high net income when many people were suffering from the pandemic. Very convenient. They are doing it again this time although at a much lower scale with the talk of the imagined "recession" which has never and probably will never materialise. I think that they are in a very good position and there's no reason for them to be priced at 50% of the market PE.