The investability of banks: A discussion with Alex Brazier (BoE), Simon Samuels (Veritum) and John Cronin (Goodbody)

Why you should watch: There were serious questions about the attractiveness of banks to investors even before the pandemic, in terms of low share prices, depressed price-to-book ratios and a general feeling that banks should increasingly be treated as utilities. The pandemic and governments' responses to it have reinforced these concerns. Net interest margins are squeezed, dividends are restrained, and there is real pressure on capital buffers. But, at the same time, banks have done pretty well in macroeconomic terms in maintaining lending to the real economy. What does the future hold for them when/if the pandemic recedes? Alex Brazier, from the BoE, gives us a regulator's view; Simon Samuels and John Cronin offer an analyst's perspective.

Moderators: Andrew Hilton (Director, CSFI) & Jane Fuller (Co-director, CSFI)

Panellists:

Alex Brazier is the Bank of England's Executive Director for financial stability, strategy and risk. He is also a member of the Financial Policy Committee. He is a former Principal Private Secretary to the Governor, and manager of the Bank's forecasting team.

Simon Samuels is the founder of Veritum partners. He is a former managing director at Barclays Investment Bank and Citi, and was a Director at Kleinwort Benson.

John Cronin is financials analyst at Goodbody in Dublin, which he joined four years ago from Investec Ireland. Before that he worked with the National Treasury Management Agency on the restructuring of the country's financial sector.

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Produced/Edited by Alex Treptow