Banking in Europe. Trusted brands retain their grip

World Economy survey.

It is almost ten years since the completion of the European Union's single market, yet one business sector continues to defy the trend towards pan-European consolidation. Retail banking remains largely organised on national lines, with none of the large banks able to stake a claim to cover the continent. There have been cross-border mergers between banks in the smaller EU Member States of Scandinavia and the Benelux countries, but in the larger markets of Europe, banking is dominated by domestic groups and remains one of the continent's more fragmented industries.