Mar 31, 2009
New opportunities in the Banking Sector?
As written in an article by the FT's columnist Gillian Tett FT. For those of you who don't know, Migros, the celebrated swiss supermarket, also comes as a Bank. As an effect of the crisis, last year total deposits at the bank surged by a multiple of 11, making Migros the fastest growing bank in Switzerland, and probably the whole Europe. The reason? The simplicity of its "core" business makes it easier for traditional customer to appreciate also its new business, which stands against the opacity of modern Banking. Put this way, sounds like David vs. Goliath... anyway, the whole story is here.