According to research by the Boston Consulting Group publicised this week, British banks currently sit as the most unprofitable in the world. What was interesting(this nugget in the Telegraph), apart from the obvious was the changing face of the rankings of the global banking industry. 5 years ago 57 of the biggest banks were based in Western Europe, 52 in Asia. At the end of last year only 37 of the banks ranked were Western European, and 52 were Asian. HSBC and Standard Chartered are still ranked in among the biggest institutions in the world, Barclays and RBS were pushed out by competitors, not just from emerging markets but from Australia and Canada. Two western countries who appear to be emerging in their own right…

I should imagine that twelve months will change this picture in a way that should have been expected but won’t be..

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