Canadian banking outlook 2014
Staying on course
The competitive environment for Canadian banks and other deposit-taking institutions remains challenging despite the recent strong earnings and financial successes of the country’s Big Six banks. Global economic and regulatory uncertainty continue to complicate strategic decision-making and banks must respond to the challenge of maintaining current profitability in the face of increased regulatory demands and the low interest rate environment. Success in 2014 will be defined by each bank’s ability to respond to current market forces and to position themselves for continued growth in the marketplace.
In this report, we identify four key themes Canada’s banks should consider to proactively respond to current market forces:
- Evolving needs of Canadian retail banking customers
- Increased scrutiny of cross-border transactions by taxation authorities
- Managing security operations in a competitive environment
- Changes to regulatory capital requirements and disclosure expectations
We hope you find our insights useful. Please contact us to learn more about how we can help you respond to these and other challenges currently facing the Canadian banking industry.
Andre de Haan, Leader, Banking & Capital Markets