News > World

Nearly 60% of the world's banks wouldn't survive an economic downturn, McKinsey says

21 days ago   |   By Business Insider

Nearly 60% of the world's banks aren't strong enough to survive a downturn.
The banks' returns on equity are too low relative to their costs, McKinsey & Company said in a new report.
The consultancy urged banks to invest in technology and pursue mergers to stay competitive with newer rivals such as Amazon and Google.
Visit Business Insider's homepage for more stories.
Nearly 60% of the world's banks aren't strong enough to survive a downturn, McKinsey & Company said in its latest global banking review. It also suggested several ways for them to become more resilient.
The consultancy firm...
Read more ...

 

Half the world's banks are too weak to survive downturn - McKinsey

Half the world's banks are too weak to survive downturn - McKinsey

21 days ago   |   By RT

A new survey from consultancy McKinsey & Co has found that a majority of banks globally may not be economically viable because their returns on equity aren't keeping pace with costs.
The study looked at 1,000 banks in developed and emerging countries and found that just over a third had made a return on capital of just 1.6 percent over the past three years. This compares to returns of just over 17 percent for top banks over the same period.
"Nearly 35 percent of banks globally are both sub-scale and suffer from operating in unfavorable markets", as well as having flawed business models...
Read more ...

 


Search by Tags

   World      Cycling      Industry      Technology      Market      Economy  


Former President Jimmy Carter hospitalized in Atlanta

Former President Jimmy Carter hospitalized in Atlanta

The nation's 39th president is set to undergo a procedure Tuesday to relieve pressure on his brain. Read more ...

Pat Sajak says 'worst has passed' since emergency surgery and will return to...

Pat Sajak says 'worst has passed' since emergency surgery and will return to 'Wheel of Fortune'

The "Wheel of Fortune" host underwent surgery for a blocked intestine, canceling a taping session for the show. Read more ...

Over a dozen fraternities suspended at California university after student...

Over a dozen fraternities suspended at California university after student dies following frat party

Dylan Hernandez, a 19-year-old San Diego State University freshman, died days after attending a fraternity party. Read more ...

Transit system apologizes to rider cuffed for eating a sandwich on train...

Transit system apologizes to rider cuffed for eating a sandwich on train platform

The head of a San Francisco Bay Area commuter train system is apologizing to a rider who was detained and cited by police for eating a breakfast sandwich on a train platform. Read more ...

'We love you Alex': Alex Trebek gets choked up at 'Jeopardy!' contestant's...

'We love you Alex': Alex Trebek gets choked up at 'Jeopardy!' contestant's answer

We'll take "Who's cutting onions?" for $200. Read more ...

Jimmy Carter To Have Surgery To Relieve Pressure On His Brain

Jimmy Carter To Have Surgery To Relieve Pressure On His Brain

Former President Jimmy Carter, 95, was admitted to Emory University Hospital Monday evening for the procedure, accompanied by his wife, Rosalynn. Read more ...

Protections for 660,000 immigrants on the line at Supreme Court

Protections for 660,000 immigrants on the line at Supreme Court

Read more ...

Trump kicks off Veterans Day tribute in NYC, saying they 'risked everything...

Trump kicks off Veterans Day tribute in NYC, saying they 'risked everything for us'

President Donald Trump kicked off New York City's Veterans Day Tribute on Monday by saying the nation's veterans "risked everything for us. Now it is our duty to serve and... Read more ...

Macron, Trump to meet ahead of NATO summit in December

Macron, Trump to meet ahead of NATO summit in December

French President Emmanuel Macron plans to meet with US President Donald Trump ahead of the December 3-4 NATO summit in London. Macron tweeted that he had an “excellent... Read more ...

Oklahoma officer arrested for killing his police chief, Lucky Miller, during...

Oklahoma officer arrested for killing his police chief, Lucky Miller, during altercation

An Oklahoma cop is accused of killing his police chief while attending a conference in a Florida beach town, according to reports. Mannford Police Officer Michael Patrick... Read more ...