Leading the Banking Industry Through the Crisis, and Beyond
Even before the COVID-19 pandemic devasted economies around the world, many parts of the global banking industry were already facing significant challenges. Low interest rates, tighter regulation post-2008, and greater competition from shadow banking and digital players meant that in 2019, nearly 60 percent of banks presented returns below the cost of equity. Nine months into this crisis, banks have played a critical role in funnelling government help to their communities, and supporting their customers. However, their financial position continues to be challenged. McKinsey estimates that global banking’s market cap is down about $2.3 trillion. Price/book ratios are lower than in 2008, and are lagging almost all other sectors. Globally, the industry is trading at a 55 percent discount to the broader market, with 77 percent of banks trading below book value. So what happens next?
Upcoming Mckinsey events
This FT/McKinsey session was based on themes in McKinsey’s up-coming publication the Global Banking Annual Review 2020 – A test of resilience: Banking in the crisis, and beyond.
The report will be published on December 10th. In addition the recent FT digital dialogue, the authors of the report will present the finding’s of this year’s report in a pair of executive briefings suitable for all markets across the global financial services industry.
You can register today for one of the following webinar sessions and to receive a copy of the report: This FT/McKinsey session was based on themes in McKinsey’s up-coming publication the Global Banking Annual Review 2020 – A test of resilience: Banking in the crisis, and beyond.
The report will be published on December 10th. In addition the recent FT digital dialogue, the authors of the report will present the finding’s of this year’s report in a pair of executive briefings suitable for all markets across the global financial services industry.
You can register today for one of the following webinar sessions and to receive a copy of the report:
Session 1: 08:30GMT /09:30 CET / 16:30 HKT
Session 2: 08:30PST / 11:30 ET / 17:30 CET
KEY TALKING POINTS
As new insights emerge about the crisis and its impact on the industry, what have we learned and what are the lessons for future crises? |
Most banks have been looking to improve productivity and optimise capital for some time now. In the crisis, what short-term levers should executives be deploying? |
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Should the economic effects of the pandemic go on for longer than predicted, what are the implications for the health and stability of the industry’s capital buffers? |
What should a CEO’s ‘post-crisis’ agenda look like? |
ANY QUESTIONS?
If you have any questions on how to register, how to access the live agenda or require any technical support please visit our frequently asked questions page.
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