Read the original full report from the McKinsey & Co. here.
Here is a brief summary of the article:
- Banks have faced challenges due to increased oversight, digital innovation, and new competitors
- The past 18 months have been the best period for global banking since at least 2007, with rising interest rates boosting profits
- Financial institutions need to reassess their businesses and identify their competitive advantages
- Scale, specialization, and diversification will be crucial
