Shrinking the retail banking business ...
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Learnt about this recently:
Citigroup to exit consumer banking in 13 markets
https://www.bbc.co.uk/news/business-56755610Feels like there’s a trend, that as wealth gets increasingly concentrated, and interest rates remain low, that the profit potential from retail banking seems increasingly minuscule compared to that of investment banking or “wealth management,” so we see more banks scaling back from retail banking but investing more in “wealth management.”
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