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The post-crisis business environment presents many challenges for the banking industry. While the fundamentals of financial intermediation remain unchanged, the crisis has created a paradigm shift in the environment in which banks operate. Small banks are the most affected: they are increasingly finding it difficult to compete, and their “going concerns” are constantly threatened. To survive in the new business climate, the European cooperative banking sector is undergoing comprehensive financial and structural transformations through different strategies. Drawing on the experience of the UK building societies, we examine the impacts of demutualization on banking markets. We argue that demutualization, despite its benefits, has negative implications for the mutual financial sector, and the diversity, competitiveness and the resilience of the banking markets.
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- Cooperative Banks: Is Demutualization an Answer? The Experience of Building Societies in the UK
Clements A. Akinsoyinu
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