The Impact of the Macro and Structural Transitions on the Banking Landscape

Inflationary environment have been dampening activity all over the place there, be it in M&A or financing. Having said that, as we go into a more balanced environment, peak rates, less inflation coming, we see a healthy backlog of financing activity that needs to be executed. There is an undercurrent of restructuring that is going on in the economy. And I think we will see that coming through when the markets are more receptive, as we all expect, in the next half-year.