Despite improvements, stresses remain in financial markets. For example, corporate bond spreads remain quite high by historical standards, as both expected losses and risk premiums remain elevated.
Digital channels are being better exploited but the industry has not been substantially disrupted by technology to date. Similarly, we have seen change in the business models of international banks (and this may be accelerated as a result of Brexit) but fundamental business models remain largely unchanged. I do not think this will last.