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Nov 1, 2022 · Bank Outlook 2023: Another bumper year for bank bond supply. Looking into 2023, financials' bond supply is likely to face another strong year. In volatile market conditions, the funding split is likely to remain…
- Turkey
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Jun 7, 2023 · The newly-published Banking and Capital Markets Transformation Map identifies key trends shaping how banks manage shocks while ensuring stability. A period of relative stability for the banking sector ended at the onset of the COVID-19 pandemic, and further shocks tested the stability of the industry at the start of the war in Ukraine, followed by supply chain disruptions, and an increase in ...
Dec 13, 2022 · A number of key uncertainties face banks and credit unions in the coming year. BAI’s Karl Dahlgren shares findings in our latest survey the biggest business challenges for bankers in 2023: new-customer acquisition, digital experience and talent.
Banking has had to chart a challenging course over the past few years, in the face of increased over sight, digital innovation, and new competitors, and all at a time when interest rates were at historic lows. The last few months have also brought their share of upsets, including liquidity woes and bank failures.
- 1 Macroeconomic Uncertainty
- 2 Interest Rate Environment
- 3 Risk Management
- 4 ESG
- 5 DE&I
- 6 Automation
- 7 Regulation
- 8 Data
- 9 Operational Resilience
- 10 Costs and Return on Equity
Until recently, most G20 countries were bracing for a recession, but the scenario may be less severe than originally thought. Initial predictions of a two-year recession have been replaced with the UK avoiding a ‘technical recession'. The Office for Budget Responsibility (OBR) predicts a -0.4% contraction in Q1 2023 and an overall contraction of -0...
We expect the Bank of England’s interest rate to drop as inflation eases. In February 2023, the Monetary Policy Committee hiked the interest rate by 50 basis points (bps) to 4%. Projections suggest interest rates peaking at 4.5% in 2023 and falling to 3.7% in 2024, then to 3.4% in 2025. Any increase in 2023 is likely to come later in the year than ...
The Prudential Regulation Authority’s (PRA) Dear CEO letterhighlights risk management as a key supervisory priority for 2023 – no surprise in this macroeconomic environment, which brings greater systemic and firm-specific risks. It also reflects a number of high-profile market incidents over the last two years, due to failings in risk management an...
ESG is a top priority for UK banks, which play an important role in supporting sustainable growth in the UK. The deadline for banks to embed climate risk principles was the end of 2021 but the PRA’s October 2022 Dear CEO letter demonstrates the need for more work to meet regulatory expectations. Most banks offer green or sustainability-linked produ...
There's been some progress on diversity, equity, and inclusion in larger and listed firms, particularly around gender balance in senior roles. But there's still a long way to go for smaller and unlisted firms, especially in the private equity sector. The FCA’s recent reviewfound that many firms in financial services follow a more targets-based, com...
The way corporate and retail customers want to interact with their bank has changed, driving a shift to automated self-service apps and better use of emerging technology, such as chatbots. But customers also need a seamless service across all communication channels and the ability to switch channels mid-journey. This supports a consistent quality o...
Regulatory priorities may shift throughout the year as the cost-of-living crisis continues to unfold, particularly if unemployment rises more than expected and housing prices continue to fall. Both the Edinburgh Reforms and the Retained EU Law Bill could substantially alter the upcoming regulatory agenda. The delayed Regulatory Initiatives Gridhigh...
Data is a recurring issue for banks throughout many themes listed here, with increasingly large amounts of data needed for compliance and reporting. Ideally, banks want to get to a point where they can aggregate and review risk and financial data in near real-time, helping to quickly identify and remediate red flags. In reality, most of the larger ...
Operational resilience requirementsare now in full swing, but many banks struggle with the scale of the regulation. Key concerns include third-party risks and contracts, governance frameworks and benchmarking. After mapping critical services and important business functions, there’s also a question of how to maintain these in the long term. Process...
Most boards have made hard commitments to investors to get their actual return on equity back above the market cost of equity. In higher interest rate environments, banks are generating greater incomes through an increase in net interest margins. Banks need careful cost control to convert that into profit, however, largely through the use of techno...
- Paul Garbutt
- Partner
- paul.garbutt@uk.gt.com
Apr 19, 2023 · Financial services organizations are currently navigating a variety of economic challenges, from dwindling consumer deposits to intensifying competition to changing experiential expectations. Recently, BAI surveyed over a hundred banking leaders, plus more than 1,000 consumers, to help financial services organizations successfully move forward.Download our Special Trends Report now to learn ...
People also ask
What challenges will banks face in 2023?
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How has the banking sector changed in 2023?
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Is the banking sector still under book value in 2022 & 2023?
Will interest rates rise in 2023?
As expected, despite an overhang of risk from the pandemic, global banking sectors again avoided major crises in 2022. Starting 2023, however, uncertainty and risk remain elevated.
