Banks must reinvent themselves before next downturn – McKinsey

(Reuters) - A third of banks globally are unlikely to survive a serious economic downturn and must radically revamp their business models, management consultancy McKinsey said in a report on the industry on Monday. A decade on from the global financial crisis, investor confidence in banks globally is also again weakening as margins tighten, and revenues and loan growth slow, the consultancy, which advises senior management on major strategic changes, said in the report

The post Banks must reinvent themselves before next downturn – McKinsey appeared first on Firstpost.

from Firstpost