This paper contributes to the current literature dealing with drivers of bank business model changes. We analyse the relationship between fee and commission income share and banks' performance in terms of profitability, risk and risk-adjusted profitability in the European Union. We applied the System Generalized Method of Moments to a unique data set of 329 EU banks in the period 2005-2014, which resulted in three key findings. First, we did not find any diversification benefits by increasing the fee income share. Therefore, we can conclude that the increase in fee income share observed in recent years in EU banks was driven mainly by external factors, such as increased competition, rather than by internal reasons. Second, higher reliance on equity financing and better quality of provided loans enhance banks' performance. Third, bank business strategies and macroeconomic factors are crucial determinants of banks' performance.

中文翻译：

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手续费收入分成对欧盟银行绩效的影响及其对银行业务模式变化的驱动力的影响

本文为处理银行业务模式变化驱动因素的现有文献做出了贡献。我们从盈利能力，风险和风险调整后的盈利能力方面分析了手续费和佣金收入份额与银行绩效之间的关系。我们在2005-2014年期间将系统通用矩量法应用于329个欧盟银行的独特数据集，得出了三个关键结论。首先，我们没有发现通过增加服务费收入份额来获得任何多元化收益。因此，我们可以得出结论，近年来欧盟银行的手续费收入份额的增加主要是由外部因素（例如竞争加剧）驱动的，而不是由内部原因驱动的。第二，对股权融资的依赖程度更高，所提供的贷款质量更高，从而提高了银行的业绩。第三，