The reality is the banking has become a commodity industry and an unconsolidated one at that. Banks can't continue to give away their services for free, whether online or bricks and mortar. The next phase is a pan European consolidation down to about 7 or 8 big European banks, plus may be 20 or so second tier. This pandemic may kick if off or we may have to wait for something else but it is the only make banks profitable again. Given it 20 - 30 years and the banks in most of the smaller member EU states will be trade names, nothing more.If you want lower retail bank interest rates, then we need to have more competition, not less.