Are financials managers adding to stricken banks?

With banks hitting the headlines for all the wrong reasons, Joanna Faith asks financials managers whether the recent volatility has provided a good buying opportunity or whether there is better value elsewhere.

It has not been a great few weeks for the UK banking sector. Barclays’ record £290m fine for attempting to manipulate LIBOR rates, which saw £3m wiped from its market value in one day, plus news the UK’s lenders had been reprimanded by the FSA for mis-selling interest rate swaps, shocked the industry. The recent revelations have arguably just exacerbated what has been a dire period for the financials sector. Banks have been struggling for the past five years after they were dealt a huge blow to their reputation during the credit crunch and many are still struggling to stay afloat as the ...