Hong Kong Banking Outlook 2023

In this report, KPMG experts from across a range of areas share their predictions for the banking industry in 2023.

With a global economy being impacted by challenges to growth, banks will face headwinds including the need to keep a lid on costs. At the same time, there is also a renewed sense of optimism in Hong Kong now that most of the Covid-related restrictions have been rolled back, and banks and their customers are looking forward to really getting back to business in 2023.

The report also takes a look at how banks are getting on in their transformation process, including how to successfully build operational resilience amid an uncertain global environment. We also discuss the future for virtual assets following the recent shocks to the sector, the growing importance of ESG for banks and all their customers, and the latest cyber and data developments in the Chinese Mainland and Hong Kong.