SVG sees futher strong bank gains

SVG Investment Managers' Andrew Goodwin believes European banking stocks still have room for significant upside.

Goodwin, manager of the Dublin-domiciled SVG European Focus fund, is bullish on European equities and believes they have significant potential over the next three to five years. With the demise of banks due to the credit crunch, the reduction in capacity has meant there is more business and bigger margins for the survivors, yet the market is still underestimating the future profit potential of banks, Goodwin says. "From the March lows share prices of the core European banking stocks have risen over 156%, but experience shows there is more upside to come," he says. "We are still at ...