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Senior level bankers, at least when it comes to the institution they run, mostly like President Donald Trump.
Nearly six of 10 bankers in Bank Director's 2018 Bank M&A Survey, for example, say Trump's tenure — so far — has been good for the banking industry. Rising bank valuations from earlier in 2017 help drive the optimism, along with Trump's appointment of regulators sympathetic to the industry, the report states.
More love for Trump: More than three-quarters of survey respondents believe the U.S. economy will experience modest growth through the end of 2018 — an improvement over last year's survey, when 31% expected an economic downturn.
The trump bump flattens out when looking beyond the specifics of the banking sector. On their personal views, more than half the bank leaders, 54%, say they are “personally dissatisfied with Donald Trump's ability to do his job as the country's chief executive,” states the survey.
Other survey results include:
• Nearly two-thirds, 59%, expect modest regulatory relief from U.S. Congress to happen by the end of 2018;
• Almost half, 49%, of respondents believe corporate tax reform is unlikely to pass through Congress; and
• More than four of 10 respondents, 44%, say rising bank valuations have made it more difficult for their bank to compete for or attract suitable acquisition targets.
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