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• W2993286017 abstract "price of overzealous cost cuffing is too high. Banks now look at their efficiency ratio in the context of their overall business Some call it an obsession. Others say it's a crusade. Semantics aside, one thing is clear: Banks have focused on efficiency with a religious-like fervor during the past decade. Under the gun to rethink standard ways of doing business while beating the previous quarter's financials, banks have launched a variety of initiatives aimed at eliminating redundancies and streamlining operations. In the name of efficiency, banks have merged, purged, displaced, and re-engineered non-essential business lines, locations, and people. By some evaluative measures, the efforts have yielded results. For example, in ABA Banking Journal's June 2000 Top 100 ranking of bank holding companies with assets over $1 billion, the median efficiency ratio for the group was 56.91%, reflecting an improvement from 58.64% the previous year. the efficiency ratio, generally defined as non-interest expense minus other real estate owned, divided by revenues, can be an effective performance measurement tool, it isn't a singular one. Moreover, as some analysts and consultants stress, efficiency cannot be defined strictly in terms of expense reduction. Indeed many banks have learned the hard way that they cannot cut their way to long-term profits and that viable revenue-growth issues must be addressed. But understanding this challenge -- and effectively managing it--are two different things. Comparatively, experts say it's a lot like maintaining a healthy lifestyle. Intellectually, people know that fitness is achieved by a striking a balance between good nutrition and regular exercise. It's not an either-or proposition. However, some try to give the illusion of good health by crash-dieting in the short term instead of maintaining a consistent health regimen. same is true of some banks. They became acquisitive--in pursuit of longer-term revenue growth--then slashed expenses aggressively to make their quarterly financials look good. But they later found that they couldn't effectively grow revenues from that base. Cut within context no one is advocating inefficiency, analysts and consultants stress that banks' efficiency strategies must go beyond the easy route of slashing headcount, branches, and product offerings. Efficiency isn't a silo and must be put into the perspective of broader corporate initiatives. The challenge moving forward--and it's one that is becoming extremely difficult--is the ability to grow revenues more inexpensively, says Christopher Kelley, a bank stock analyst at Morgan Keegan & Co. in Memphis. If you cut too much to the detriment of it may take a long time to bring customers back, and in some cases you may never get them back. Joseph Duwan, a Keefe, Bruyette & Woods analyst in New York, agrees. I think that there is a growing recognition among bank CEOs that when you look at efficiency, you also have to look at the company's overall business mix as well as customer service, Duwan says. There has to be an understanding and a balance of priorities. Experts say that a comprehension of viable business strategies for the future must also come into play. For example, bank managements that are actively engaged in merging and digesting acquisitions may find themselves wasting an inordinate amount of time re-engineering business models that aren't particularly opportunistic--or profitable--moving forward. Bankers must be able to assess various business activities--both traditional and nontraditional--on the merits of their long-term potential. While it's great for banks to strive for an improved efficiency ratio, they should also be looking at ways for investing in their future--in technology and customer relationship management, says Alex Sheshunoff, president of Sheshunoff Management Services in Austin, Tex. …" @default.
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• W2993286017 title "Forget Cost Cutting Think Low-Cost Revenue Growth" @default.
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