Growth in Banking
Unlocking the full potential
Since the financial crisis in 2008 and the subsequent global economic recession, banks have focused most of their attention on protecting their business against negative external events, choosing to protect their share of the market until more favourable conditions return.
They have tried to improve their financial position through a combination of cost control and revenue growth, but the result has been volatility in profit margins. Revenue growth has not necessarily resulted in higher profits.
This report suggests that market conditions are now improving, and that opportunities for profit growth have returned, and banks should be planning to develop their business through strategies for profit growth. Increasing revenue is of no value unless it is accompanied by higher profit.
In this report we consider three key questions:
- How do banks create profitable growth that will add to their value?
- How do they sustain it?
- How do they establish a growth-oriented culture?
In Deloitte’s view there is a four-stage growth cycle that banks should adopt and maintain. Find out more by downloading the report.