This was seen as a negative factor by rating agencies and investors, and we were constantly called upon to explain how we were going to deal with that situation. BIS Review 51/2004  1  Where did the journey take us after that?
In fact, cost per banks total asset is at 0.92 for Swedish banks against 1.42 for the euro area, on average. This clearly shows that European banks have to adjust their business models to improve their profitability prospects.