“MacIntyre Schaffer” – Bank Shares Have Long Way To Recover.

“MacIntyre Schaffer” – Banking’s stunning profits, high bonuses and record earnings are unlikely to return any time soon.

Online PR News – 05-February-2010 – – MacIntyre Schaffer, the Asia-based asset manager, believes that investors who are expecting the banking industry to return to the glory days of huge profits and large bonuses will be sorely disappointed.

The firm is thought to believe that, as much of the controlling interest in several large US and UK banks is now in the hands of their governments, bureaucratic red-tape, small bonuses and heavy regulation will severely curtail the high-flyers that made banking so lucrative in the years preceding the credit crunch.

Sources close to MacIntyre Schaffer suggest that the once highly-lucrative derivatives business which has effectively brought the financial system to its knees is dead. Securitization will never be the force it was and loan losses on real estate will feature on bank reports for years to come.

MacIntyre Schaffer believes that stocks within the food and energy sectors are likely to be the new stars of the equity market but one of the sources suggested that banks operating in emerging markets may be on the firm’s radar as those countries succeed in their efforts to spur domestic demand for the goods they produce.