However, few banks managed to obtain, on an individual basis, a substantial market share and size, which are critical factors for efficiency and profitability. This shortcoming has to be addressed. A stronger presence of fewer banks would be better not only for individual banks, but also for the market and the domestic economy.
How should we refer to these 3,200 banks? As you’ve probably noticed by now, I’ve opted for the term “small and medium-sized institutions” – and this decision was preceded by a lengthy discussion. For those of you who represent a small or medium-sized bank, I hope that you are happy with this description; it will see us through the rest of the evening.