August 20, 2009

In a recent study from advisory firm KPMG KPMG.UL, banking executives said the industry will recover slower than even the economy; a true statement that was good to hear, as some politicians and news outlets attempt to make it look like we’re in the beginning of some type of recovery, when there is a long way to go before that becomes a reality.

Close to 66 percent of banking leaders responding to the survey said banking and financial services would recover slower than the overall economy, which tells me people will have to get a longer term outlook on how long economic hardships will last, and plan accordingly.The biggest challenges to the banking industry, according to executives, included managing risk and generating more revenue growth, as normal revenue outlets have dried up.