McKinsey Calls Global Banking Revenues Anaemic
A new report from McKinsey was released yesterday that shows revenues across the banking sector have stalled since 2013 with investment banking being a particular drain. Bank revenues are growing at just 2% annually, less than half their normal 5-6% growth rate. Bank profitability has also struggled with most banks earning far less profit in recent years that they did pre-crisis. McKinsey called the industry “safer, but stuck in neutral”. Source.