Six years after the collapse of Lehman Brothers began a long and painful crisis for investment banks, a new analysis from Deutsche Bank is predicting that the worst may be over for the industry. A variety of leaner business models in the US, Europe and Asia have emerged that look increasingly sustainable, putting banks in a good position to take advantage of steady growth over the next 10 years, according to the report. Many banks have cut their balance sheets and business lines in recent years, and a prediction from UBS last year that the industry would shrink from 10 bulge-bracket firms before the crisis to between three and five looks largely to be playing out. An in-depth analysis by Deutsche has found that both camps - the full-scale bulge bracket, and smaller more specialised firms - have found success, with return-on-equity at many banks now starting to rise after many years of declines.
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