Whilst several banks have been hit and buffered by the storms of the credit
crisis, with a few sinking with loss of jobs, there are one or two banks that
have been sailing through this storm with determination and focus.
A few were derided when the storm set in,
such as Citi who I mentioned last
week in relation to Sovereign Wealth Funds. Those banks now look positively
healthy compared to others.
The
reason?
They were willing to bite the bullet first and announce negative news,
such as requirements for recapitalisation and write-offs, before
everyone else.
One of those banks was HSBC.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
