Half The World’s Banks Won’t Survive The Next Crisis, McKinsey Finds

Translation: If you aren’t big enough to be a crony of the government, you will be sacrificed. Better to sell out to a crony bank while you can.

(From Zerohedge)

More than half of the world’s banks are at risk of collapse in the next global downturn if they don’t start preparing for late-cycle shocks, McKinsey & Company warned in its latest global banking outlook.

The consultancy firm warned on Monday, in a 55-page report titled ‘The last pit stop? Time for bold late-cycle moves’, that 35% of banks globally are “subscale” and will have to merge or sell to larger firms if they want to survive the next crisis.

Reprinted from: https://www.ac2news.com/2019/10/half-the-worlds-banks-wont-survive-the-next-crisis-mckinsey-finds/