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

11 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.
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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...
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Half the world's banks are too weak to survive downturn - McKinsey

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

11 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...
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