Opinions Darren Sissons
Barclays Bank PLCBCSCOMMENTJan 27, 2017
Darren SissonsStock price when the opinion was issued
As of Jun 23, 2026. Market Open.
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Premium contentPremium contentBest European bank? European banking is difficult, given negative interest rates. Best in class is Barclay's for its investing banking business or Lloyd's Banking. There should be more consolidation here, but it's difficult in Europe (look at ATD'B trying to buy Carrefour this month).
Likes it. They bought Lehman, which had investment banking but was really a bond house, so Dodd-Frank caused a lot of capital issues and restrictions. New management is doing a good job by sticking with investment banking and have a great retail franchise in the UK, and they exited businesses around the world that didn't work out. They're going all the right things, though Brexit creates uncertainty. Great credit card business. It will do well, but have to get past Brexit early next year.
Lloyds (LLOY-LN) and/or Barclays (BCS-N)? Some of the European banks will generally follow the US banks up a couple of years later. When the US went into Armageddon, they lowered rates and exported capital, and that caused rates globally to go down. The Europeans with the UK raised rates within a year. So, he thinks this will be the same, but if the US starts to raise rates aggressively, that could speed up the process where higher interest rates in Europe make sense. This one has a little more international exposure. He would consider looking at Banco Santander (SAN-N), which survived relatively well during the crisis.