Global report suggests third of banks vulnerable to downturn

Many of the world’s banks may not be able to survive an economic downturn, an international consultancy firm says.

But local experts say New Zealand banks are unlikely to be part of the number in danger.

McKinsey & Co issued a report which said that 60 per cent of banks around the world might not be economically viable because their returns on equity were not keeping pace with their costs.

To find out more, read the full article on the Stuff website now.