Like I said, there’s little money in retail banking. And zero money to be made in challenger banking. It’s why they are all shrinking or closed. Mellon bank saw this 20+ years ago. ING & others are focusing more on investment banking. Mostly for the high net worth people but also people in our financial arena. It’s why Bank of America agreed to take on Merrill Lynch in 2008 during the meltdown. And still can’t make much money because of their focus on retail banking. Wells Fargo got fined a bundle for trying to rip off consumers because there’s little money in retail banking. Most banks are trying to get into investment banking where significant money can be made. Quasi Goldman Sachs or Morgan Stanley like.
You can see how precarious the economy is for retail banking companies by how quickly they can become insolvent. Even a bank considered excellent because of their clientele like SVB. Then Credit Suisse almost went belly up until UBS saved them. Deutsche Bank isn’t exactly a bastion of profitability either. Citibank almost went belly up in 2008. One of the largest banks in the world. Anyone who claims banking, especially retail banking is a profit generating machine is not paying attention. Sent from Yahoo Mail for iPhone On Thursday, April 6, 2023, 6:07 PM, René Jansen <rene.vincent.jan...@gmail.com> wrote: They will be disappointed if they hear that, there are a fusion between Rijkspostspaarbank, NMB (Nederlansche Middenstandsbank, Postcheque en Girodienst, and Nationale Nederlanden. They are a very large bank in the Netherlands. And yes they are off the mainframe, running a lot of mainframe stuff on Micro Focus. best regards, René. > On 7 Apr 2023, at 00:01, Bill Johnson > <00000047540adefe-dmarc-requ...@listserv.ua.edu> wrote: > > ING isn’t a bank either. > ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN
