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Financial industry through midpoint of crisis, says Barclays Capital CEO

Barclays Capital chief executive Bob Diamond says the financial industry is through the midpoint of crisis and predicts a period of recovery of nine to 18 months, according to reports.

The reported market outlook follows Barclays’ annual general meeting in which it announced its intention to resume dividend payments in the second half of the year.

At a Morgan Stanley European Financials investor conference at the end of March Diamond said financial stocks were past the worst.

He said: “Of course, predicting the timing of recovery in this climate is extraordinarily difficult – broadly speaking I believe financial stocks are past the most difficult point, however recovery will take time.”

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