The first few weeks of the pandemic saw significant market value decreases in the banking industry, with many short-term revenue impacts expected:
Lower net interest margins
Emergency cuts to interest rates reduced core banking profitability.
Drop in payments revenue
With large declines expected in areas such as cross-border payments.
Increased pressure on credit management
Many consumers and businesses will face short-term cash flow constraints, and will seek credit as a result.
Croud have produced a whitepaper looking specifically at the impacts of COVID-19 on the retail banking sector. Download it here: Croud Retail Banking Whitepaper