US banks have an opportunity to be 'heroes' in the coronavirus crisis, fund manager says
U.S. banks have a huge opportunity to emerge from the coronavirus as "heroes" and "good guys," a fund manager told CNBC on Wednesday. Smaller Companies Fund at Premier Miton Investors, said there was a "big silver lining" for lenders, despite the pandemic piling pressure on their operations. "Bear in mind that banks are the transmission for the systems getting money to people in difficulty," he said. "I think there's a huge opportunity for the U.S. banking system to come out of this as very much the good guys as the heroes." Ford acknowledged that banks were entering "a very difficult period," with the impending economic downturn as a result of the pandemic likely to put pressure on credit card and loan repayments.
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