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Is it any surprise that banking is considered a low-growth, perhaps even ex-growth, industry? In recent years, banks have been vastly overshadowed by the growth of the big technology companies which, through the likes of Apple Pay, are already eating into their lucrative fees.

In the US, the large banks — including Wells Fargo, Bank of America and Citi — together have a total value of about $2.2-trillion. But four companies that hardly existed in 2000 — Google, Amazon, Facebook and Apple — have a total value of $5.6-trillion...

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