KPMG 2024 Banking CEO Outlook

120

Banking & Capital Markets CEOs

11

Countries

$500m

USD+ in revenue

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 organizations. 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’ behaviors 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.

KPMG 2024 Banking CEO Outlook

Banking leaders are balancing the pursuit of prudent growth strategies, deliberating future-oriented investments in technology, talent and ESG.

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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 organizational 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 balancing act that CEOs must perform is not an easy one, however there is much reason for optimism, when you consider the positive evolution this sector has undergone over the past 36 months. The profitability and stability this industry achieved, while further strengthening its risk management practices, puts these institutions in a good position, not only to reward investors, but also to take advantage of this critical moment, and bravely invest for the future in emerging technologies, forever-essential talent and critical ESG efforts.

Francisco Uría

Global Head of Banking and Capital Markets

KPMG International

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 organizational headquarters are the US, followed by India, the UK, China, Canada and Germany.