For banks globally, 2022 brought an end to more than a decade of relative stability. Macroeconomic volatility and geopolitical tensions continue to disrupt the financial sector—and as the economy slows, the divergence between banks will grow further. To ride out the current turbulent period and achieve long-term growth, banks will need to become more resilient and reinvent traditional business models. One way to shift to a future-proof platform could be through the development of an environmental transformation strategy, write McKinsey's Miklos Dietz, Attila Kincses, Archana Seshadrinathan, and Dee Yang. This is especially relevant as the next era of the net-zero transition approaches, with the initial surge of funding for renewable energies opening a door to engagement with banking clients across sectors. On this #InternationalDayofBanks, dive deeper into our Global Banking Annual Review to understand how banks can manage the present while preparing for the future, and explore more industry insights below.
McKinsey’s Global Banking Annual Review 2022
Reshaping retail banks: Enhancing banking for the next digital age
Strategic M&A in US banking: Creating value in uncertain times
A digital approach to SME banking
Sustaining digital payments growth: Winning models in emerging markets
Best of both worlds: Balancing digital and physical channels in retail banking
When the tide turns: Optimizing US commercial banking deposits