European banks ‘lagging behind’ in re-thinking strategies, Bundesbank board member says

Andreas Dombret

European commercial banks need to make significant changes to their business models, Andreas Dombret of the Deutsche Bundesbank's executive board said in a speech in London today (October 29).

Speaking at the London School of Economics, Dombret said observers of the financial crisis in 2008 would have expected reform of the banking sector to be complete by 2015.

While the reforms that had been undertaken had significantly increased the sector's stability, there were still "too many possibilities

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