Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

European Banks to See Consolidation, KPMG Study Says

The European banking industry is likely to consolidate as medium-sized lenders shrink and focus on their home markets, according to a study by accounting firm KPMG International.

The potential change will come as banks are “pulled in many directions at once” by capital and liquidity regulations and corporate governance and compensation rules, KPMG said in the report today.

“Europe’s banking industry is likely to see significant consolidation, with the second tier likely to shrink in both breadth and number,” said Jeremy Anderson, global chairman of KPMG financial-services practices in London. “The main brand names will continue in the market, but with fewer challenger banks emerging than might have been expected.”

European banks are already selling assets to prepare for tougher capital rules under Basel III international standards and slower revenue amid the sovereign debt crisis. Rabobank Groep, the Dutch lender, agreed yesterday to sell a controlling stake in its asset-management unit for 1.94 billion euros ($2.59 billion) as it sheds units to help strengthen its finances amid slowing asset growth and competition for deposits in the Netherlands.

“Even the regulators are now worried about the volume of regulation,” KPMG said in its report.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.