The banking sector is undergoing a significant digital shift driven by consumer needs.

According to McKinsey - The opportunity for a new business model comes as banks face daunting challenges on multiple fronts.

The management consultancy firm adds that in the capital markets, many banks trade at a 50 percent discount to book, and approximately three-quarters of banks globally earn returns on equity that do not cover their cost of equity.

Renny Thomas, Senior Partner, McKinsey shares more. 

The banking sector is undergoing a significant digital shift driven by consumer needs.
According to McKinsey - The opportunity for a new business model comes as banks face daunting challenges on multiple fronts.
The management consultancy firm adds that in the capital markets, many banks trade at a 50 percent discount to book, and approximately three-quarters of banks globally earn returns on equity that do not cover their cost of equity.
Renny Thomas, Senior Partner, McKinsey shares more.&nbsp;

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