One of the biggest problems in banking today is growth, or shall we say, lack of growth. Consumers and businesses are either unable or unwilling to borrow like they did before the financial crisis. Nationally, mortgage revenue growth has been built on refinancing activity, with only a recent improvement in the level of home purchases. Bank profitability has been bolstered more by a reduction in loan losses and loan loss reserves than by phenomenal growth rates. In other words, there’s trouble brewing in the kitchen, unless the economy makes substantial gains. Bank boards are looking for answers to these problems...
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