Globalization in the Banking Industry

In modern time there has been huge reductions to the barriers of global competition in the banking industry. Increases in telecommunications and other financial technologies, such as Bloomberg, have allowed banks to extent their reach all over the world,since they no longer have to be near customers to manage both their finances and their risk. The growth in cross-border activities has also increased the demand for banks that can provide various services across borders to different nationalities. However, despite these reductions in barriers and growth in cross border activities, the banking industry in nowhere near as globalized as some other industries. In the USA for instance very few banks even worry about the Riegle-Neal Act, which promotes more efficient interstate banking. In the vast majority of nations around globe the market share for foreign owned banks is currently less than a tenth of all market shares for banks in a particular nation. One reason the bank industry has not been fully globalized is that it is more convenient to have local banks provide loans to small business and individuals. On the other hand for large corporations, it is not as important in what nation the bank is in, since the corporation's financial information is available around the globe.

Banking by country 

Banking in Australia
Banking in Austria
Banking in Bangladesh
Banking in Canada
Banking in China
Banking in France
Banking in Germany
Banking in Greece
Banking in Iran
Banking in India
Banking in Israel
Banking in Italy
Banking in Pakistan
Banking in Russia
Banking in Singapore
Banking in Switzerland
Banks of the United Kingdom
Banking in the United States