Fri, Jan 23, 2015 - Page 15 News List

Poll shows more job cuts expected in banking sector


Big banks might resist pressure to split as they seek to preserve advantages conferred by size.

“The very cheap financing is due to the government guarantee that makes large banks viable, and that hasn’t changed despite all the new rules,” said Gyula Lencses, a poll respondent who helps manage US$750 million at the Hungarian unit of Raiffeisen Bank International AG. “To properly manage a breakup is also very hard, so nobody wants to take that risk.”

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