Big European banks are cutting costs

Big European banks are using current crisit to change their business model from traditional branches to more online presents. Last banks to announce this was Commerzbank which will fire 1/3 of their staff and close many branches. Similar thing is happening at Unicredit or Societe General. This is something investors wanted for years and can be a big impuls for their share price to go up. (Patricks, Wall Street Journal)

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