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  "documentTitle": "European Banking Barometer 2015",
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      "text": "The economic recovery will be weaker, but the (gradual) improvement in banks' financial performance will continue.",
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      "text": "In 2014, 64% of respondents expected the economic outlook to improve. In our latest survey, just 38% do. Furthermore, 27% now believe that the economic outlook will deteriorate.",
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      "text": "Despite this, 56% of respondents still believe that the financial performance of their own bank will improve, compared with 60% in 2014. Bankers remain most positive about the outlook for private banking and wealth management; 62% believe the outlook is good for that segment. More than half of respondents also thought the outlook was good for retail banking, corporate banking, and debt and equity issuance.",
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      "text": "We estimate that, unless banks exceed the 3.5% revenue growth and 1.6% cost reduction they anticipate, they are likely to improve return on equity (ROE) by only around half of the 1.6% they hope to achieve.",
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      "text": "The prospects for a European economic recovery are weaker than in 2014, but most bankers remain positive about their own institution's performance. The broad-based optimism about the economy seen in our previous edition has evaporated: just over a third of bankers now expect the economy to strengthen, and more than a quarter anticipate a deterioration in outlook.",
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      "text": "Despite this, most bankers still expect their institution's financial performance to improve – but only slightly, as institutions continue to grapple with a complex and evolving regulatory agenda. With the industry still struggling to deliver sustainable returns, pay expectations are more modest than in 2014.",
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