Credit Suisse First Boston has released its largest ever comprehensive banking report. This report focuses on the longer-term since we believe that too much attention is given to periods of one year, one quarter or, as sometimes occurs, even one day. Yet, the industry is geared for an economy growing twice as fast, indicating lower revenue, more credit problems, and intensified market share battles. Sins of the past will be revealed sooner and with bigger penalties.
Deregulation moves competition to a previously unseen level.
Banks are forced to have each business compete at the level of best practice, not defined by the bank across the street but by the strongest global player. Technology is dramatically lowering entry barriers and requires banks to increasingly compete against software, Internet, telecommunications, and even retail companies. Past industry definitions are becoming obsolete. All rights reserved. For Privacy Policy please click here.