IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Le paradoxe des banques britanniques

  • Christine Lagoutte
Registered author(s):

    [fre] Les grandes banques de dépôts britanniques se distinguent par leurs niveaux très élevés de rentabilité, notamment depuis la fin du ralentissement économique et de la crise de l’immobilier au Royaume-Uni en 1993. Le recours à une nouvelle interprétation théorique de l’intermédiation financière qui prend en compte, outre la dimension informationnelle des banques, leurs avantages compétitifs spécifiques en termes de gestion du risque et de réputation, permet d’éclairer les choix stratégiques retenus. Dans les différents cas, l’activité bancaire de détail occupe une place prédominante. Le choix opéré en faveur d’activités (bancassurance, crédit immobilier et gestion de portefeuille) permet de tirer parti de synergies, à l’origine d’une rentabilité accrue. L’analyse stratégique des six plus grandes banques tend à préciser les différentes logiques respectives (vocation globale, resserrement sur le marché domestique et européen) et à éclairer leurs positions concurrentielles sur le marché bancaire. Classification JEL : G21, G28 [eng] British banks’ paradox The big British clearing banks emerge among the others banks around the world because of their high levels of profit since 1993. New theoretical interpretation of financial intermediation which includes, in addition to information, the competitive advantage of the banks in terms of risks management and reputation highlights the strategic choices. In any case, retail banking activity is predominant. Closely related activities as bancassurance, assets management and estate credits are generating synergies which improve the profit. Different guidelines are at the basement of the strategic choices adopted by the big six which determine their competitive positions in the banking market. JEL classification : G21, G28

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    Article provided by Programme National Persée in its journal Revue d'économie financière.

    Volume (Year): 77 (2004)
    Issue (Month): 4 ()
    Pages: 329-353

    in new window

    Handle: RePEc:prs:recofi:ecofi_0987-3368_2004_num_77_4_4191
    Note: DOI:10.3406/ecofi.2004.4191
    Contact details of provider: Web page:

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Bossone, Biagio, 2001. "Circuit theory of banking and finance," Journal of Banking & Finance, Elsevier, vol. 25(5), pages 857-890, May.
    2. Allen, Franklin & Santomero, Anthony M., 2001. "What do financial intermediaries do?," Journal of Banking & Finance, Elsevier, vol. 25(2), pages 271-294, February.
    3. Merton, Robert C., 1995. "Financial innovation and the management and regulation of financial institutions," Journal of Banking & Finance, Elsevier, vol. 19(3-4), pages 461-481, June.
    4. Boot, Arnoud W A & Greenbaum, Stuart I & Thakor, Anjan V, 1993. "Reputation and Discretion in Financial Contracting," American Economic Review, American Economic Association, vol. 83(5), pages 1165-1183, December.
    5. Scholtens, Bert & van Wensveen, Dick, 2000. "A critique on the theory of financial intermediation," Journal of Banking & Finance, Elsevier, vol. 24(8), pages 1243-1251, August.
    6. Franklin Allen & Douglas Gale, 1994. "A welfare comparison of intermediaries and financial markets in Germany and the U.S," Working Papers 95-3, Federal Reserve Bank of Philadelphia.
    7. Boyd, John H. & Prescott, Edward C., 1986. "Financial intermediary-coalitions," Journal of Economic Theory, Elsevier, vol. 38(2), pages 211-232, April.
    8. Panzar, John C & Willig, Robert D, 1981. "Economies of Scope," American Economic Review, American Economic Association, vol. 71(2), pages 268-272, May.
    9. Dorothée Rivaud-Danset, 1996. "Les contrats de crédit dans une relation de long terme. De la main invisible à la poignée de main," Revue Économique, Programme National Persée, vol. 47(4), pages 937-962.
    10. Bhattacharya Sudipto & Thakor Anjan V., 1993. "Contemporary Banking Theory," Journal of Financial Intermediation, Elsevier, vol. 3(1), pages 2-50, October.
    11. Boot, Arnoud W. A., 2000. "Relationship Banking: What Do We Know?," Journal of Financial Intermediation, Elsevier, vol. 9(1), pages 7-25, January.
    12. Reinhard H. Schmidt, 2001. "The Future of Banking in Europe," Working Paper Series: Finance and Accounting 72, Department of Finance, Goethe University Frankfurt am Main.
    13. Michel Dietsch, 1993. "Localisation et concurrence dans la banque," Revue Économique, Programme National Persée, vol. 44(4), pages 779-790.
    14. Olivier Pastré, 2001. "Industrie bancaire : les espoirs des Davids face aux Goliaths ?," Revue d'Économie Financière, Programme National Persée, vol. 61(1), pages 53-62.
    15. Diamond, Douglas W, 1991. "Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt," Journal of Political Economy, University of Chicago Press, vol. 99(4), pages 689-721, August.
    16. Michel Boutillier & Agnès Labye & Christine Lagoutte & Nathalie Lévy & Auguste Mpacko Priso & Valérie Oheix & Stéphane Justeau & Bruno Séjourné, 2002. "Placements des ménages en Europe : le rôle des intermédiaires financiers se transforme en profondeur," Économie et Statistique, Programme National Persée, vol. 354(1), pages 85-102.
    17. Mervyn K. Lewis, 1992. "Modern Banking in Theory and Practice," Revue Économique, Programme National Persée, vol. 43(2), pages 203-228.
    18. E. Gerald Corrigan, 2000. "Are banks special? a revisitation," The Region, Federal Reserve Bank of Minneapolis, issue Mar, pages 14-17.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_2004_num_77_4_4191. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Equipe PERSEE)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.