The banks are happy
When I look at the quarterly reports of HSBC or Citibank, I find this article very amusing. Comparing even a quarter's profits of HSBC with the value of a German bank from Frankfurt takes your breath away.
www.mergers-and-acquisitions.de/fakten2030.htm
The takeover by the Italian UniCredito of the Bavarian bank Hypo-Vereinsbank reminds me a little of the Italian Bipop Carire's takeover of Bavarian Entrium. The only success was the share flotation on the Frankfurt Stack Market at the time. The offer for shareholders was alright, if one sold the shares at once. Entrium has been absorbed into the ING Diba, and I have lost rack of Bipop Carire. Does it still exist?
www.welt.de/daten/2000/06/28/0628un176417.htx
In general, one should take the profits form bank shares slowly, if interest rates are still going to rise. It seems to me that a switch to participation certificates, or to funds that invest mostly in participation certificates, will be more lucrative in the mid-term.
