European banks could have a promising future—but it will be very different from the past. An open mind and willing stance on disruption and change will be vital for those seeking sustainable competitive advantage.
In 2016 we navigated rough seas; the year was characterized by seismic and unexpected changes in the geopolitical landscape. European retail banking was not left unscathed; declining revenues were not offset as the industry struggled to sustainably reduce costs. However, some clear retail banking champions have emerged, and the gap between the best performers and the rest has widened.