UK banks 'held down by commercial property'
www.moneynews.co.uk > General finance > UK banks 'held down by commercial property'
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UK banks 'held down by commercial property'
Wed 22nd Oct 2008
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Experts at Credit Suisse say that the dwindling commercial property market is having an adverse effect on the British banking system, efinancialnews.com reports.
Unsecured retail credit such as credit cards and other forms of personal debt are also factors.
While believing the bailout has advantages, Credit Suisse analysts say that reviving the system will take time and the effects of the economic downslide are likely to be severe.
"Banks do not offer enough upside to compensate for the risks and so we remain cautious," they explained.
Furthermore, they believe that some parts of the economic downturn are probably going to be even worse than in the 1990s, such as the credit loss becoming much higher if a borrower defaults on a bank.
Credit Suisse states that its aim is to be "the world's premier and most admired bank" and says that its approach is "client focused".
Its businesses include private and investment banking and asset management.
Related News : General finance |
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Related News : Banking |
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