Bank Earnings Momentum Not Looking Healthy: David Gaud
  • Elizabeth George
  • Oct 14 2013

October 14: David Gaud, Senior Portfolio Manager at Edmond de Rothschild, says they are massively underweight on public banks, which will need recapitalization in the near future. Private banks are better placed, but even they won’t be able to escape rising NPLs and high cost of funding as the economy slows, he adds.