BoE’s Cunliffe notes ‘gap’ between bank return and investor expectation
Investors should be prepared for lower returns in the coming year, Bank of England deputy says
UK bank investors should be prepared to see lower returns this year, a deputy governor of the Bank of England said on April 26.
Speaking at a memorial lecture last night for Alastair Ross, Jon Cunliffe noted a "wide gap" between banks' "disappointing" returns and investor expectations had formed. "This is reflected in current price-to-book ratios. This gap may need to be closed from both directions," he said.
Cunliffe focused in on the investment banking sector, which he said had become less
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