Ingmar, welcome.
What's the key to growth for retail banks in the near term?
So I think for retail banks it's very, very important to have
multiproduct relationships with their customers to meet their
return targets and to really be as profitable as their investors
expect them to be.
That's truly the key.
Given this, we will need to see more innovation and we need to
see retail banks being able to extend outside of their DD&A
deposit relationship with their clients.
And where is cost on the agenda?
Very, very high
to pay for that innovation and to stay as profitable as required.
Retail banks will need to bend the cost curve and that's only
achievable if you truly end-to-end digitize their
processes, not just the customer-facing pieces but also
the back and middle office.
Do you see much opportunity for M&A in the retail banking sector?
Absolutely.
We expect M&A to pick up.
I think the current political environment is not too friendly,
but I think in the next regime, we would expect that to
accelerate again.
Thank you so much.
Thank you.