Banking: Bought to book – the valuations that will drive European bank M&A

With interest rates at rock bottom, even the best banks in Europe are struggling to find new ways of boosting profits organically. The continent needs to consolidate, and at the hands of its better-run banks. Euromoney takes a close look at price-to-book values to see which those banks might be – and which deals could get put together as regulatory uncertainty clears and M&A activity picks up.