Money talks, BS walks: where the real money is made in banking.
In 2016, banks made $209bn from transaction banking, compared with the $172bn made by their trading arms, according to the data, which cover global, regional and local banks. This is almost three times the $77bn that banks made from advising clients on M&A and helping them raise finance. Transaction services also eclipsed lending revenues for every year since 2011.
It was and still is very labour intensive. Fintech will change this. Too bad for the bank staff especially in a hub like S’pore.