The KPMG 2024 Banking CEO Outlook examines how today’s banking leaders are facing multifaceted and relentless challenges.
Banking CEOs largely demonstrate confidence in the growth potential of their organisations. Main priorities for banking CEOs include continued investment in business transformation through technology, with generative AI (Gen AI) gaining prominence as a top investment.
At the same time, banking CEOs feel pressure in the context of today’s uncertain geopolitical and macroeconomic environment.
Talent is a key concern as banking CEOs attempt to attract and retain the professionals with the right skills to support technology-enabled business transformation. ESG is viewed as an important driver of growth that will continue to shape the banks’ behaviours and investments.
The KPMG 2024 Banking CEO Outlook examines how banking CEOs plan to navigate this dynamic environment, adapt their business strategies, and drive success over the next three years.
Key findings from our research
66%
Sixty-six percent of Banking CEOs are confident in the growth prospects of the Banking & Capital Markets Industry.
81%
Eighty-one percent see cybercrime/cyber insecurity as the top factor likely to have a negative impact on organisational growth over the next three years.
58%
Fifty-eight percent of respondents anticipate receiving a significant rate of return on their ESG investments within three to five years.
81%
Eighty-one percent see gen AI as a top investment priority despite ongoing economic uncertainty.
92%
Ninety-two percent of Banking CEOs are likely to reward employees who make an effort to come into the office.
The KPMG 2024 Banking CEO Outlook reveals that while technology driven transformation, increasingly powered by AI, is and will continue to be a critical enabler of franchise value, people remain at the heart of everything banks do which creates both near term challenges and opportunities relating to the sustainability of the hybrid working model and competition for talent in a period of transition to the workforce of the future.
Methodology
The KPMG 2024 Banking CEO Outlook, part of the 10th edition of the KPMG 2024 KPMG CEO Outlook, is compiled from the views of 120 banking and capital markets chief executive officers, which was conducted between 25 July and 29 August 2024, providing unique insight into the mindset, strategies and planning tactics of CEOs.
All respondents oversee companies with annual revenues over US$500M, and a third of the companies surveyed have more than US$10B in annual revenue. The survey included CEOs from 11 key markets (Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, UK, and US) and 11 key industry sectors, including banking and capital markets.
In the banking sector research, the two largest sub-sectors were commercial banking (27 percent) and capital markets/investment banking (22 percent). The best-represented countries based on organisational headquarters are the US, followed by India, the UK, China, Canada and Germany.
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