Private banks still struggling in Europe - According to the annual study by the consultancy firm McKinsey, no less than 15% of European private banking institutions (or 16 banks) have posted operating losses. Only 2 or 3% of them were in this situation prior to the financial crisis, but the proportion of banks affected is increasing year on year. Overall, however, the 110 banks examined by the consultancy firm have got back to pre-crisis levels and 25% have even exceeded them. As to the...