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Withering away

The Economist
Sherief Meleis of Novantas, another consultancy, reckons that thanks to low rates banks are about $60 billion a year worse off than in 2007 and that new rules are trimming their revenues by another $15 billion or so. With such a steep drop in income, about 15% of the current branch network tips over into unprofitability, he says.

Read more: Withering Away

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