Etienne Davignon

facebook_page
twitter_page

Last quote by Etienne Davignon

The US banks thought they could grow by 10% to 15%, year after year, and so they had to come up with products that were more and more sophisticated, to be able to produce that level of profits. The situation for the European banks wasn't the same. The European banks got hit because they bought into those US products, but that kind of activity was not a big part of their business. They are more high street banks, commercial banks and private banks. But there are a number of European banks now with insufficient funds, which has undermined public confidence in those banks.feedback
share this quote
Sep 30 2008
This page is completely dedicated to what Etienne Davignon has to say. All of Etienne Davignon’s quotes are organized here by date and topic. The most recent quote attributed to Etienne Davignon came from an article called Moves to reassure investors: “The US banks thought they could grow by 10% to 15%, year after year, and so they had to come up with products that were more and more sophisticated, to be able to produce that level of profits. The situation for the European banks wasn't the same. The European banks got hit because they bought into those US products, but that kind of activity was not a big part of their business. They are more high street banks, commercial banks and private banks. But there are a number of European banks now with insufficient funds, which has undermined public confidence in those banks.”.
Automatically powered by Storyzy
Take our quote verification challenge and find out !
<
Quote Verifier
verify-icon
Check if the quote you read on social networks is authentic
facebook_page
twitter_page
This webpage has been created by a robot: errors and absent quotes cannot be totally avoided
 
Feedback×

Quote :

Mistake :

Comments :