24/06/2013
Private banking is becoming less profitable in Europe
P { margin-bottom: 0.08in; } According to an annual study by the consultant Mckinsey, no less than 15% of European private banks had operating losses in 2012, Les Echos reports. Only 2% to 3% of banks were in this situation before the financial crisis, and the percentage has been increasing each year. However, overall, the 110 banks examined by the agency have returned to their pre-crisis profit levels, and 25% of them have even surpassed them. Total assets under management have recovered by 8% in one year. But this increase in assets is more due to improved markets in 2012 than to inflows, which have increased only modestly.
