In 2022, banks’ performance in Latin America and the Caribbean had a boost from rising interest rates and economic growth.

The strong dollar has dampened the growth of Islamic banking services in Asia-Pacific, while Saudi Arabia continues to see large expansion. 

The future government will face three major economic challenges: a marked slowdown in growth, a deterioration in budget deficit and an increase in credit risk.

Like other challenger banks, Metro Bank has struggled with profitability over the past few years. But unlike others, it also reported a drastic drop in Tier 1 capital. 

The sector was described as stable by the IMF in September, but the ongoing conflict with Israel is set to change the outlook.

The mergers and acquisitions environment has been suppressed by inflation and rising interest rates so far.

An annual survey by McKinsey dives into the challenges to growth and profitability of European private banks. After a successful 2021, the industry is navigating an uncertain macroeconomic outlook and evolving client needs. 

For the second year in a row, Vancity has topped the annual Sustainable Banking Revenues league table, which looks at how much of banks’ overall revenue is being generated from sustainable lending, investments and underwriting. 

Lenders across the continent experienced pressure from high inflation and a strong US dollar in 2022.

Decline in revenue likely to continue into 2024, says Scope Ratings.