Banks will need to go back to the drawing board if results for the third quarter are anything to go by. The numbers cannot be more revealing; that big players have on average shed up to a quarter of their revenues relative to a similar period a year ago with other previously profitable names sliding into loss territory.
Experts are wondering whether this significant retreat in performance is a mere short-term cost of adjustment, permanent or even the beginning of a terminal decline of banking as we know it.
