Banking?
January 27th, 2010 | by admin |CollegeBoy00 asked:
Bank mergers, consolidations and changes in the banking industry have changed the way we do our banking over the past ten years has the changes been good or bad for the consumer?
Bank mergers, consolidations and changes in the banking industry have changed the way we do our banking over the past ten years has the changes been good or bad for the consumer?
Please give examples.
2 Responses to “Banking?”
By sstooc2001 on Jan 27, 2010 | Reply
the whole point about merger is to cut cost and reduced competition. both resulted in further reduce of bank service be it lay off more employees and reduced the amount of banks available on the streets. it is at the expense of the consumers of course. instead of dealing with you in person , you are probably waiting on the phones and listening to mundane music. and perhaps makes you run around making more phonecalls before any issues is resolve.
By Curious One on Jan 29, 2010 | Reply
It differ from bank to bank, merger to merger. For example Citigroup merger made it congolomerate resulting in offering more product at lower cost with wider network whereas PNB merger with NBI made PNB itself sick resulting in eroding networth of the PNB shareholder and customers.
Again at same time Big bank may sometime became little less argile resulting in degradation of service.
So it depends on how it executed, what kind of synergy is there in merger and accordingly it will depend on the effect on the consumer.