David Herro Says He Likes BNP Paribas Over Deutsche Bank

David Herro, chief investment officer of Harris Associates LP, said he prefers shares of BNP Paribas SA over Deutsche Bank AG.

“I have better quality banks at lower prices” than Deutsche Bank, Herro said Monday in an interview with Tom Keene on Bloomberg Radio. “We also own Intesa Sanpaolo and Lloyds Bank and these are commercial banks that have good business models, strong visible capital positions. Deutsche Bank may have that but it’s harder for us to ascertain.”

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