No fireworks - but expect better quality and fewer jobs in 2003

The banking sector will face considerable restructuring as the year opens with tight pressure on margins, according to most observers. But they expect few fireworks in the way of mergers and acquisitions among the frontline big names and much more a wave of activity among the second rank of institutions.
BRE Bank, still considered to be a main candidate for attention, finds its future ownership in the hands of Commerzbank - and in the climate surrounding the entire German banking sector.