The global banking industry has shed more than $5.5 trillion in market value since the financial crisis first took root in the third quarter of 2007, and it will take years to remake itself and recover, according to a study to be released today by a Boston consulting firm.

John Garabedian, a senior partner and managing director at Boston Consulting Group, said it could take banks around the globe anywhere from seven to 10 years to recoup their losses in market value. The lengthy timeline stems entirely from banks' need to review all business lines in order to boost overall profitability, he said in an interview Tuesday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.