Notwithstanding such transformation, the public sector banks still account for nearly 70 per cent of assets and income. Public sector banks have also responded to the new challenges of competition, as reflected in their increased share in the overall profit of the banking sector. This suggests that, with operational flexibility, public sector banks are competing relatively effectively with private sector and foreign banks.
There will be less new regulation. 5. How will EU work with 25? Let me finally, turn to the most important and topical issues on How will EU work with 25? I agree with Professor Roland that the new member states will be active and enthusiastic members. They have not come to use a veto.