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By Arnd HESSELER, Dr. Marc BUERMEYER, Ulrich HOYER and Darius BACKHAUS, zeb consulting*
The year 2023 stood out as exceptional for banks across European markets. Business with private clients flourished. This begs the question of what the years to come will bring for banks operating in European private client markets?
Steadfast island with income from private client business
For too long, the European private client business was treading water. Looking at the balance sheets of households from eleven European core markets, the aggregated private client banking income amounted to around EUR 185 bn from 2015 to 2021, with a low of EUR 178 bn in 2021. This has changed significantly since the renormalization of...
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