2020 U.S. Banking Industry Update: Consolidation Continues Even as Banks Becoming More Efficient

2020 U.S. Banking Industry Update: Consolidation Continues Even as Banks Becoming More Efficient

This IDC Perspective examines the U.S. banking industry, which has continued to see much fluctuation during the past 10 years. This document looks at those trends, understanding that the global pandemic is likely going to have long-term impacts that are just now starting to unfold. As we continue to see the number of banks reduced by 5% each year, competition will become fiercer among the surviving institutions and understanding key financial ratios will help consumers and vendors identify organizations that are healthy and likely to survive whatever comes next."The U.S. banking system, like most industries, is being challenged today unlike any period in history," says Marc DeCastro, research director for Consumer Banking Engagement Strategies at IDC Financial Insights. "While our industry has learned much from the financial crisis of 2008, and reserves are in great shape, the longer the financial impact that COVID-19 has on our local communities, the more it will dictate which banks thrive, which fail, and which become acquisition targets. Consolidation will likely increase in the coming years until things are sorted out."

Please Note: Extended description available upon request.


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