Alexandre Mato (Brussels) | Job and office cuts, mergers of different banking cultures, necessary digital transformation, lower profitability because of the interest rate environment … “In a context of profound market changes, banks cannot allow themselves to spend three years looking inwards!” concludes Wim Mijs about the long process of cross-border operations in the sector. The CEO of the European Banking Federation, the sector´s main interlocutor with European institutions, explains the sector´s main challenges just after presenting a project to boost EU capital markets.
capital markets union
The European Commission is trying to create a single market for capital across the continent to increase and diversify the funding sources for Europe’s business and long-term projects. In the EU, mid-sized companies received five times less money from capital markets than in the U.S.
Venture capital market is still relatively undeveloped in Spain, experts from La Caixa research argue. This kind of investment in Spanish firms totalled 280 million euros (0.03% of GDP) in 2014, clearly below the volumes of the US (0.17% of GDP).
July 1, 2015 | BNP | While Grexit is the market concern of the moment, disintermediation and securitisation will be important to monitor for the future.