Stop to abnormally high profits of European banks

The banks do not serve their clients well and they earn abnormally high profits through operations related to credit and other debit cards! This remark has been made recently by the commissioner of European Union for competition Nelly Cross, who even announced that she was ready to start the campaign against the financial companies that earned profit in that way.

Cross pointed out to the fact that the banks realized biggest profit on the account of their loyal clients. When the average consumer in EU opens account in some financial company, he or she mainly stays loyal to that company for one decade. Because, the prices of changes are usually high. Therefore, clients stay in the first bank, which results in the fact that there is not enough competition on the market as it should be.

In addition, the profits are enormous and, depending on the country, they range between 17 and 40% in the retailing sector. Therefore, Nelly Cross recommended to the banks to reexamine their customs and adopt them to the new time.