Half of the world's banks are too weak to survive an economic downturn, an international consultancy firm says. But local experts say New Zealand banks are unlikely to be part of the number in danger. McKinsey & Co issued a report which said that 60 per cent of banks around the world might not be economically viable because their returns on equity were not keeping pace with their costs. Global return on tangible equity (ROTE) had flatlined at 10.5 per cent, despite a small rise in rates in 2018, it said.Emerging market banks had seen ROTEs decline steeply, from 20 per cent in 2013 to 14.1 per cent in 2018, due ... (full story)