Henry Ergas asks what's so special about the banks and the number four.
On April 23, Dutch bank ABN Amro capitulated to a $US91 billion takeover offer by the UK's Barclays Bank, potentially paving the way for an entity with banking assets of over $US3 trillion - almost three times the asset base of the four major Australian banks combined.
Definition of 'Financial services'
Used to refer to the services provided by the finance industry. Financial services is also the term used to describe organizations that deal with the management of money and includes merchant banks, credit card companies, consumer finance companies, government sponsored enterprises, and stock brokerages.
Pillars of Sand
Posted in:
Financial services
