zeb/market flash (Issue 4 – January 2013) Banking industry continues 2012 recovery with strong Q4 performance – uncertainties for 2013 ahead

Key topics

1. Global economic climate

  • Aside from the US, the global economy continues to slow down, as GDP growth rates and forecasts further decrease
  • Economic outlook for Germany substantially reduced
  • Italy may become main challenge for the euro in 2013 due to elections and highest refinancing needs

2. Key banking drivers

  • Stock market volatilities back to pre-debt-crisis levels
  • Historically low EURIBOR not reflected in lending/deposit rates
  • Investment banking activities with solid recovery – corporate bond issuances outperform M&A activities and equity offerings

3. State of the banking industry

  • Q4 strong quarter for banking industry outperforming all other industries – upward trend continues as market capitalization reached highest level in two years
  • Outlook for 2013 mixed due to increased rating downgrades

4. Special topic: The impact of negative interest rates

  • Negative interest rates pose several challenges for banks
Picture: Skyline Chicago
Download zeb/market flash (Issue 4 – January 2013)

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Author Dr. Dirk Holländer

Dr. Dirk Holländer

Senior Partner Office Frankfurt

Volker Abel

Senior Manager zeb Frankfurt

Dr. Ekkehardt Bauer

Senior Manager Office Münster

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