Future of banks, banking and financial services - for RBS - by conference keynote speaker, Patrick Dixon. Future of banking following the credit crunch, sub-prime crisis,and chaos in global markets. Some say banking will never be the same. What will be real impact on banking profits from global economic chaos, recession and following collapse in bank share prices. Future trends in retail banking, corporate banking, wholesale banking and investment banking. Why banking will become profitable and a good investment again. Expect further rapid consolidation in banking, with radical cuts in retail outlets and staff redundancies. This will reduce competitive pricing pressures from the market. It will also allow greater profit margins for products like commercial loans and mortgages or current accounts. Less pressures on pricing, plus reduced costs will combine to increase profitability in the longer term. Banking share prices are in turn likely to show recovery. The final cost of government rescue packages may be less than feared, if they involved providing banks with equity in return for shares. Taxpayers may actually make a gain from their public ownwership of a proportion of major banks. Remuneration for CEOs and Chairman of banks will come under scrutiny, and regulation will be stricter. However, we can expect rewards for the most skilled bankers to once again be very generous. Interest rate cuts will also by stimulate the businesses that banks lend to, and help take the edge off a long recession.