Banking sector in a transition phase

A financial crisis was leading to the end of the 40-year traditional banking system, with US banks becoming global players, Panagiotis Thomopoulos, chairman of National Bank’s board said during a meeting at the Delphi Economic Forum.

Thomopoulos stressed that against this backdrop, unless EU banks were offered more room to define their operation model according to their region/sector they risked losing share in the global market along with a significant income source.

Chinese banks are still fragile for the moment, the Greek banker said, but added that with the Chinese state covering their needs in capital and liquidity, they can make a stronger presence in the global market, especially now that Chinese non-financial companies are investing -with the support of Chinese state banks- in OECD member-states.

Thomopoulos referred to the digitalization of the banking sector, saying it was moving rapidly and noted that customer will have new products such as an e-wallet.

Source ANA-MPA
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