Financial Services in Scotland still bullish
Rosemary Stark, Vice President, Financial Services, Capgemini comments on the Scottish Financial Enterprise Quarterly Survey, which found that the Scottish financial services industry is still in a relatively strong position.
19 December 2007
Publication
The Scottish Financial Enterprise (SFE) Quarterly Survey prepared by SFE and Capgemini shows that even recent annoucements about subprime related losses by Scottish banks have yet to have the negative impact feared by analysts.
The survey of SFE members, which includes 75% of the Scottish industry found that the majority of companies remain confident about their prospects during the final quarter of 2007 and into 2008.
Rosemary, echos this views: “The continuing effect of subprime and associated write-downs will be seen across the industry for at least the remainder of 2007, and these are driving the stable, rather than growing Q4 forecasts predicted by the industry.
“However, it is clear from the positive forecasts for 2008 that the Scottish financial services industry believes that market conditions will improve significantly in 2008.
“This positive prediction highlights the resilience of the industry despite the difficult conditions in the latter half of 2007”.
To read the rest of the article in The Scotsman, click here.
To learn more about Capgemini’s services in the Financial Services Sector, click here.
