"Banks are restructuring either as a condition of public ownership or to address strategic imbalances, for example cutting back operations in non-core markets."
DANIEL MEERE, FINANCIAL SERVICES CONSULTING, PA CONSULTING GROUP
PA’s Daniel Meere, a financial services expert, has been quoted in the Financial Times Business Turnrounds special report. Daniel comments on the increasingly aggressive approach banks are starting to take to restructure their business in the face of constrained profitability.
Daniel explains that the banks’ restructuring efforts fall into two categories: “First, those imposed by regulators or as a condition of public ownership, for example off loading branches or specific business units. Second, those that address strategic imbalances, for example cutting back operations in non-core markets.”
The latter is largely in response to increased pressure on profitability.
You can read the article in full here.