Wholesale Banking Bright Spot In Beleaguered Industry
The global financial crisis had little impact on wholesale banking so far.
The wholesale banking sector is proving to be a major bright spot in the banking industry even as consumer banking continues to lose its sheen, according to Massachusetts-based TowerGroup, a financial services research and advisory services firm.
TowerGroup reports that transaction services businesses of leading global banks averaged 22% annual revenue growth in 2008, whereas it was 11% for wholesale banking. Though growth rates have begun to decline in 2009, these businesses continue to generate a significant portion of the profitability of commercial banks globally.
Theodore Iacobuzio, Research Executive for Payments and Wholesale Banking, at TowerGroup, said: “Bank executives must determine how to guide their institutions through the deteriorating economic circumstances of this recession while also focusing on how to build their businesses for the new financial landscape that will follow. The reliability of the wholesale banking sector provides a critical business engine for stable revenue growth, an engine that will help drive institutions in the post-recessionary era, creating even greater business opportunities in the years to come.”
Related Insight
Suppliers Directory
Wealth & Assets Management Asset Management Hedge Funds Private Equity Mutual Funds
Intermediaries Prime Brokerages Custody & Clearing ECN & Exchanges
Technology Banking Technology Security Tech Outsourcing & BPO
Policies & Regulatory Compliance Risk Management
Intelligence
Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Reports Buy online from $125
Comments may be moderated for spam, obscenities or defamation.