The crisis caused by COVID-19 is showing its first impacts on the banking sector. In report assesses the impact on the sector of seven factors and its trends: monetary policy, digitalization, regulation, economic growth, new entrants, competitive landscape and government support.
A swift and coordinated response from monetary, fiscal and regulatory authorities has been key to address the consequences of the COVID-19 crisis. These measures (heterogeneous by countries) have supported credit growth and have mitigated the initial negative impact.
Early effects on the banking sector are mainly a decline in profitability, cost control, without signs of asset quality deterioration yet and sound capital and liquidity levels.
Four key features are identified for post COVID-19 winners in the banking industry: a) embrace digitalization; b) adapt to clients’ needs; c) increase efficiency; d) revenue diversification.
SME Banking Club is an international networking platform of business bankers aimed to provide relevant information on what banks and financial companies are offering for entrepreneurs, micro-, small and medium enterprises (SMEs).
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