“If you’ve got money, you should go out and buy bank shares right away.”
The advice from Pan Gonsheng was typically forthright. Presenting stellar results from Agricultural Bank of China a few weeks ago, the lender’s vice-president felt every reason to be bullish.
He was talking about Chinese institutions, rather than the downtrodden stocks of their western equivalents – and similarly upbeat sentiment has surrounded other big emerging market banking sectors, notably Brazil’s, over the past couple of years.
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