German banks dominate Top 10 of the largest European banks, according to operating ratio - The French daily Les Echos has published its second survey on the top one hundred European banks, this time classified according to the operating ratio, having published an initial classification based on equity return (see yesterday's EI). This operating ratio is the ratio between general costs and income from operations. Schematically, the lower the ratio, the more the bank has in revenue to cover risks and to invest. From this second chapter of this survey it emerges that: i) specialised German credit establishments and British retail banks are the best placed; ii) despite comfortable profits, many European banks still place emphasis on the need to reduce their costs, with British banks being the most determined in this; iii) the irruption of new technologies and their impact on the undertakings is leading banks to forge alliances so as to share risks and know-how; iv) although "domestic consolidation" is still a reality in Italy, in France and the United Kingdom, several groups are beginning to emerge that operate in several countries, in areas like the Benelux, the Iberian peninsula and Central Europe.