News > World

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

9 monthes 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

9 monthes 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  


In virus talks, Pelosi holds firm; Mnuchin wants a deal

In virus talks, Pelosi holds firm; Mnuchin wants a deal

Monday brought no new talks between Trump's team and negotiators on Capitol Hill as the president tries a go-it-alone strategy meant to circumvent the legislative standoff. Read more ...

President Trump abruptly escorted from White House briefing by Secret Service

President Trump abruptly escorted from White House briefing by Secret Service

WASHINGTON - President Donald Trump has been abruptly escorted by a U.S. Secret Service agent out of the White House briefing room as he was beginning a coronavirus briefing... Read more ...

Derecho with 100 mph winds moving across the Midwest

Derecho with 100 mph winds moving across the Midwest

A derecho is a widespread, long-lived wind storm associated with a band of rapidly moving showers or thunderstorms. Read more ...

McDonald's is suing its ousted CEO for lying about sexual relationships with...

McDonald's is suing its ousted CEO for lying about sexual relationships with employees

The fast food chain is suing Steve Easterbrook for the amount of his exit package: about $40 million. Read more ...

Shooting near White House spurred Trump's abrupt exit from briefing

Shooting near White House spurred Trump's abrupt exit from briefing

Read more ...

Amazon may take over old JCPenneys and Sears to try and speed up deliveries

Amazon may take over old JCPenneys and Sears to try and speed up deliveries

Amazon may replace closed department stores at struggling malls. Read more ...

Disney World to reduce theme park hours in September

Disney World to reduce theme park hours in September

Operating hours at all Central Florida parks are changing. Read more ...

1 killed, several injured as ‘major gas explosion' obliterates three...

1 killed, several injured as ‘major gas explosion' obliterates three Baltimore homes

A huge gas explosion has reduced three row houses to rubble in Baltimore, Maryland, killing one resident and injuring several others, the city's fire department has said. At... Read more ...

Several trapped, critically injured after houses explode in Baltimore, fire...

Several trapped, critically injured after houses explode in Baltimore, fire union reports

The Baltimore fire union tweeted that several houses exploded and at least five people were trapped, including some children. Read more ...

Big Ten cancels the 2020 fall football season: Report

Big Ten cancels the 2020 fall football season: Report

CHICAGO - When the Mid-American Conference became the first FBS conference to postpone their fall seasons till the spring on Saturday, many wondered if another major league... Read more ...