I did. Mellon Bank during the transition from retail bank to investment bank. Retail banking sucks for profits. That’s why Citi is selling for 6 times earnings. ING stock would have lost you a ton of money over the last 20 years. Why are bank stocks selling at a huge discount to the market?
Sent from Yahoo Mail for iPhone On Thursday, April 6, 2023, 8:06 PM, Doug <d...@bkassociates.net> wrote: Maybe you should have actually worked in retail banking, which clearly, you never have. Doug Fuerst d...@bkassociates.net ------ Original Message ------ From: "Bill Johnson" <00000047540adefe-dmarc-requ...@listserv.ua.edu> To: IBM-MAIN@listserv.ua.edu Sent: 06-Apr-23 19:16:58 Subject: Re: Stop the ragging on COBOL please [was: RE: ASM call by value] >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 ---------------------------------------------------------------------- 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
