Barclays, BNP, Deutsche Bank gain as US banks falter

09/23/2008 | Bloomberg

Deutsche Bank, BNP Paribas and Barclays are poised to gain clients after meltdown of the US investment-banking model. Because the European banking giants have depositors, they can capitalise on prime-brokerage services, derivatives and other businesses that require capital, Sanford C. Bernstein analyst Bruno Paulson said. European financial institutions have an advantage that may last as long as two years, Paulson said.

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