what is banking sector consolidation?

Answer 1

This is the process whereby smaller banks get taken over by bigger banks. Who two banks merge so that there are fewer banks but those that do exist are much bigger.

An example is the bank Natwest (full name national westminster) bank that formed as a merger between National Provincial Bank and Westminster Bank. And Natwest itself is part of the Royal Bank of Scotland bank.

Answer 2

consolidation = lots of mergers and acquisitions of small companies, resulting in several large companies dominating the market.