This update forecasts developments and trends affecting Hong Kong’s banking sector in 2017
This annual update forecasts developments and trends affecting Hong Kong’s banking sector in 2017. It notes that banks in Hong Kong have had to navigate an uncertain market environment in 2016, and this is expected to continue in 2017.
Increasing regulatory scrutiny has also been a trend for a number of years, and as a result, regulatory and compliance matters are a key driver of costs for banks. This will continue in 2017, but we expect banks to start turning the corner in managing the cost of meeting regulatory and compliance obligations by adopting innovative, technology-enabled solutions.
The analysis also shares our 2017 outlook for a number of key focus areas for banks in Hong Kong, including regulation and conduct, anti-money laundering, FinTech and RegTech, non-performing loans, financial transformation, M&A, tax, securities and customer experience.