KPMG's new report Creating a New Mold for Banking reveals that banks in developed countries, such as the U.S., have been the hardest hit by the crisis and are fundamentally reconsidering their business models, while banks in Latin America, Africa and Asia have been less affected and are refining existing strategies rather than re-writing them.

"Compliance with various regulatory requirements has many financial institutions re-examining and refining their business models," said Tony Anzevino, partner-in-charge of KPMG LLP's (U.S.) Banking and Finance practice. "New regulations such as the Dodd-Frank Wall Street Reform and Consumer Protection Act and Basel III will require banks to hold additional capital, impose additional costs and may reduce returns."

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