Alexander Verhagen and Sasha Brainis at McKinsey demonstrate that banks globally achieved their best results in a decade during 2022-23. Likewise, SME revenues in the EU hit a record high over the past decade. Despite strong 2023 profit and loss figures, the banking valuation gap remains below average. Growth, especially beyond GDP, is constrained in core banking services, with transactional banking experiencing the most significant growth in payments and deposits.
Then they show what leading banks are doing to excel in SME banking and address strategic questions: : faster and smarter credit, winning the 'war' on deposits, strengthening customer relationships with data excellence, leveraging GenAI for the next S-curve of effectiveness/efficiency, growing beyond the core, and guiding the green transition.
