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Default Risk: Cooperative bank hires Mckinsey & company to review its lending processes

23, Oct 2020

Cooperative bank has hired McKinsey & Company to review its lending processes, with an aim of reducing the risk of defaults following the coronavirus outbreak. The bank may have to change its lending template, loan profiles and job descriptions to cushion itself from the effects of the pandemic. according to McKinsey, banks have continued to rely on risk management models that were built in the provide era. they need to be adjusted to reflect the current situation  

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