In a year of upheaval caused by geopolitical tensions, the ongoing pandemic and an uncertain economic climate, banking CEOs face challenges and opportunities amidst the sector’s ongoing transformation. As part of our 2022 CEO Outlook, we surveyed 141 banking CEOs, gathering their insights and perspectives into the business and economic landscapes over the next 3 years.
Believe there will be a recession in the next 12 months
Think a recession would upend anticipated growth over the next 3 years
Say an anticipated recession will be mild and short
Say continuing to drive digital transformation at a rapid pace is critical to stay ahead of the competition
Have committed to allocating more than 6 percent of revenue to make their organization more sustainable
Think those who worked in offices pre-pandemic will be back in the office regularly in 3 years’ time
I find it encouraging that despite uncertain market environment stemming from geopolitical tensions, rising interest rates and new monetary policy, over 80% of Banking CEOs are confident about sectors growth prospects for the coming years.
Head of FS Advisory
The 8th edition of KPMG CEO Outlook, conducted with 1,325 CEOs between 12 July and 24 August 2022, provides unique insight into the mindset, strategies and planning tactics of CEOs not only comparable to pre-pandemic to today, but also from KPMG’s CEO Pulse Survey conducted with 500 CEOs between 12 January and 9 February 2022, before the Russian government's invasion of Ukraine.
All respondents have annual revenues over US$500M and a third of the companies surveyed have more than US$10B in annual revenue. The survey included leaders from 11 markets (Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, UK and US) and 11 key industry sectors (asset management, automotive, banking, consumer and retail, energy, infrastructure, insurance, life sciences, manufacturing, technology, and telecommunications).
Note: Some figures may not add up to 100 percent due to rounding.
For more information about this survey and digital transformation strategies for today’s bank, connect with us.