FacebookInstagramTwitterContact

 

BORNEO HOUSING AGENCY: Shop House in Seria Town • Industrial Warehouse in Menglait, Gadong for Rent • Shop house in Gadong (Ground Floor) for Rent • Industrial Shops in Bunut for Sale • Land in Jerudong for Sale • • Shop house in Kiarong for Sale (B$380.00) • TEL: +6738732975           >>           Private Company Urgently Need Houses & Flats for Rent in Bandar Seri Begawan, Kindly Contact the ff. nos. for further information: +673 222 0178/+673 873 2975           >>           Windows 10 Included Password Manager With Huge Security Hole           >>           As Online Ads Fail, Sites Mine Cryptocurrency           >>           Smoke Damages The Liver And Brain; Even THIRDHAND           >>           Sweet Distraction: The Sugar Industry Has Been Hiding Evidence Of Its Health Effects For Nearly 50 Years, Researchers Discover           >>           Here’s What To Do If A Grinch Tells Your Children Santa Doesn’t Exist           >>           Man City's Kevin De Bruyne Shows Spurs' Dele Alli What He Can Become           >>           Real Madrid Win Club World Cup As Ronaldo Again Stars On The Big Stage           >>           China Seeks Financial Cooperation With U.K.           >>           Billionaire Hedge Fund Manager Having The Worst Year Of His Career           >>           Austria Far Right: Freedom Party Wins Key Posts In New Government           >>          

 

SHARE THIS ARTICLE




REACH US


GENERAL INQUIRY

[email protected]

 

ADVERTISING

[email protected]

 

PRESS RELEASE

[email protected]

 

HOTLINE

+673 222-0178 [Office Hour]

+673 223-6740 [Fax]

 



Upcoming Events


Annual Year End Exhibition
December 21st, 2017 | 00:00 AM





Prayer Times


The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


Imsak

: 04:47AM

Subuh

: 04:57AM

Syuruk

: 06:21AM

Doha

: 06:45AM

Zohor

: 12:17PM

Asar

: 03:39PM

Maghrib

: 06:11PM

Isyak

: 07:26PM

 



The Business Directory


 

 



World Business


  Home > World Business


An $85 Billion Asset Manager Is Staying Away From Nordic Banks


 


 June 19th, 2017  |  09:29 AM  |   927 views

BLOOMBERG.COM

 

Nordic banks, long considered among the safest in the world, are losing their appeal as an investment target, according to PineBridge Investments, a multi-asset manager that oversees about $85 billion.

 

Graeme Bencke, the portfolio manager who heads equity strategy at PineBridge in London, says the circumstances that made banks in Sweden, Denmark, Norway and Finland a “good investment in the post-crisis period” no longer exist.

 

“Now, we’re in more of an upswing and a lot of the European banks that had been in trouble, southern European in particular, are now starting to see an incremental improvement,” Bencke said in an interview in Stockholm. “So there’s a much bigger inflection point in valuation in those banks than there is in the Nordics. That’s kind of keeping us away from the Nordic banks.”

 

Investors have so far stayed loyal to banks in the Nordic region, where prosperous and stable economies have been relatively unscathed by the wave of financial shocks to have hit since 2008. Nordic lenders have also tended to take a more cautious approach on capital adequacy. But that investor loyalty has driven up valuations, potentially leaving less room for price gains.

 

Values are normalized.

 

Sweden’s four biggest banks are all in the top half of Bloomberg’s index of European financial stocks, based on price-earnings ratios for next year. Nordea Bank AB, the biggest Nordic lender, has seen its share price soar about 50 percent over the past 12 months, compared with a roughly 35 percent increase in the Bloomberg index.

 

Meanwhile, banks further south are starting to emerge from years of trouble. In Spain, Banco Santander SA’s recent takeover of Banco Popular Espanol SA (a key test of European resolution rules) shows southern Europe’s banks are successfully dealing with their weakest links. (Though Italy is still trying to figure out how to handle its struggling banks.)

 

 “Southern European banks in particular have a lot of problem assets which had been aggressively marked on the books,” Bencke said. “These banks are now able to offload some of those problem assets at losses that are smaller than the losses they’ve already taken. So we’re starting to see again, assuming the recovery continues, it’s quite a good inflection point for those banks with more difficult assets. Which is something the market’s been waiting for for years.”

 


 

Source:
courtesy of BLOOMBERG

by Hanna Hoikkala

 

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]

 

Related News


Tekun Needs To Increase Maximum Loan Amount To Help Smes

 2017-12-17 09:55:02

Wu Yongning: Who Is To Blame For A Daredevil's Death?

 2017-12-17 10:19:08

China Seeks Financial Cooperation With U.K.

 2017-12-17 10:37:48