UK banks offer investment potential, expert claims

Mon, 11 Aug 2008

Recent bad results for UK banks could actually prove to be good news for those with investments in the sector, according to one expert.

Nick Raynor, investment advisor at the Share Centre, explained that although Royal Bank of Scotland (RBS) announced the second worst losses in banking history, they were still better than many had feared.

He said: "Those investors who have been trading the shares may now want to sell out and move on to pastures new, while long term investors would be wise to continue to hold."

Those who had purchased investments in RBS should now be smiling as they will be showing "a near 20 per cent profit", he added.

Anyone considering investments in the banking sector would do well to look at Lloyds TSB and Barclays, as both institutions are well placed, Mr Raynor stated.

Last week, Angus Rigby, chief executive officer of investment firm TD Waterhouse, claimed that Lloyds TSB's interim results had been "encouraging".
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