KPMG Saudi Arabia’s Post

"One of the major pitfalls related to cost management is that it often ends up being about cutting costs. But to make cost improvements successful, they must also be sustainable. This requires a continuous review of spend, optimising current resources, driving efficiencies, and shifting savings to investments that deliver value..." Some very interesting content from my KPMG colleagues on #CostOptimisation in the banking sector. A lot of the principles and considerations will resonate with other sectors and industries too. Please get in touch if you want to discuss how cost optimisation initiatives could be best applied to your business.

📣 Deloitte has recently published a comprehensive analysis of the European Banking Authority (EBA)'s final Guidelines on resolvability testing, rolled out in June 2023. This comes as a crucial development that signifies a pivotal turn in the banking landscape. 📝 The EBA's guidelines mark a significant change, moving us from a period of policy development and capability setup to a phase where action takes center stage. These guidelines primarily introduce three key components: 🔔 Resolvability Self-Assessment: Encouraging banks to evaluate their own readiness for resolution. 📘 Master Resolution Playbook: A requisite for complex banks to blueprint their operational and financial stability strategies. 🗺️ Multi-Annual Testing Programme: A structured roadmap for long-term resilience and efficacy checks. 🔍 For a deeper dive into these guidelines and their implications, be sure to check out Deloitte's latest publishing 📚 👇.

In the 2023 KPMG CEO Outlook, 142 Banking CEOs were surveyed globally for the annual report. While carefully managing current uncertainty and risk, banking leaders are increasingly focused on opportunities in a changing world. Read more in the latest KPMG 2023 Banking #CEOoutlook

In the 2023 KPMG CEO Outlook, 142 Banking CEOs were surveyed globally for the annual report. While carefully managing current uncertainty and risk, banking leaders are increasingly focused on opportunities in a changing world. Read more in the latest KPMG 2023 Banking #CEOoutlook

In the 2023 KPMG CEO Outlook, 142 Banking CEOs were surveyed globally for the annual report. While carefully managing current uncertainty and risk, banking leaders are increasingly focused on opportunities in a changing world. Read more in the latest KPMG 2023 Banking #CEOoutlook

As a Board Member of the Principles for Responsible Banking, I wanted to reflect on how important our work promoting #responsiblebanking all around the world is. Our fourth-year anniversary is a great opportunity to do so! Building a sustainability framework for the #banking sector worldwide was the objective and the growth in membership has been a real satisfaction with a surge from 130 to 325 banks, now representing nearly 50% of the global banking industry’s assets. A few other key figures to highlight the success of the principles: • 100% of members have submitted their reporting • 94% align their strategy to global agreements Showcasing in depth the progress in responsible banking, the new edition of the biennial report titled “Responsible Banking: Towards Real-World Impact” is available. Evaluating the Principles progress, this report highlights the milestones of member banks on their way to incorporating #sustainability considerations in their broad strategic frameworks. It also showcases the concrete transformations in governance structures and the development of new products and risk management approaches. At the risk of repeating myself, coalitions and common frameworks are key to fast-track sustainable development. United Nations Environment Programme Finance Initiative (UNEP FI) #ResponsibleBanking #SustainableFinance

🚀 Exciting News! We are thrilled to unveil our latest Banking Insights report at KPMG Luxembourg! 📊 Our comprehensive analysis covers key figures and challenges in the banking sector, providing invaluable benchmarks. Discover how your bank performed in comparison and gain insights to drive your strategy forward. 🏦 🔍 Our report offers an analysis of the current market landscape, including performance benchmarks to measure your bank against industry standards and strategic insights to navigate emerging challenges and opportunities. You can stay ahead of industry trends, identify growth opportunities, mitigate risks, and empower your decision-making with data-driven insights. Don't miss out on this essential resource! Click the link to explore the full report: http://kpmginfo.lu/3xV39LF #KPMGLuxembourg #Banking #BankingInsights #FinancialServices 🎥 Watch our video for a sneak peek into the report’s findings! 👇 KPMG Luxembourg Benedikt Barz Chambourdon Stanislas

As the financial sector faces unprecedented pressures, it's clear that simply cutting costs is not a sustainable strategy. Our research at KPMG underscores the importance of strategic cost management as a fundamental pillar for sustainable banking operations. In our recent study, 85% of banking executives globally recognised cost management as critical to their bank’s strategic priorities.   70% of executives are targeting cost savings of more than 10% in the next three years. The challenge is not only to reduce costs but to transform them in a way that aligns with evolving business models and customer needs. Strategic cost transformation involves a holistic approach, integrating technology advancements and operational efficiency to achieve both short-term savings and long-term value creation. This is about more than just cost-cutting; it's about making smart, strategic decisions that enhance value across the banking ecosystem.   Embracing digital transformation, leveraging AI, and optimising operational models are imperative. As we move forward, banks must focus on driving efficiency while also investing in innovations that meet the changing expectations of customers and stakeholders. #Banking #Finance #CostManagement #StrategicTransformation #KPMG   For more in-depth insights, I invite you to read our latest report on strategic cost optimisation in modern banking here https://lnkd.in/dX9W5a9c

What does record high in interest rates mean for banks in Luxembourg? How does your bank rank? The latest addition of our annual banking study is now available! Explore the key factors shaping Luxembourg's banking market and learn what obstacles banks need to tackle within the sector. Read the study 👉 http://kpmginfo.lu/3xV39LF Chambourdon Stanislas | Reem Olleik Gharib | KPMG Luxembourg

In the 2023 KPMG CEO Outlook, 142 Banking CEOs were surveyed globally for the annual report. While carefully managing current uncertainty and risk, banking leaders are increasingly focused on opportunities in a changing world. Read more in the latest KPMG 2023 Banking #CEOoutlook