Banks (trading on 0.6x price-to-book-value ratio and 6x price-to-earnings ratio for 2023E) are still expecting a record year in 2023
Dirk Becker (Allianz GI) | Credit Suisse has been seen as the weakest link in the global banking sector for several months, after vari- ous scandals and poor management decisions. We think the merger can therefore help to stabilise the global financial system: In our view, UBS are being paid for running down the risky parts of Credit Suisse, and they get to keep the highly profitable Swiss domestic unit…
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