Banks deliver record earnings, confirming a simpler industry requiring discipline and diversification – PwC Major Banks Analysis Half Year May 2023

From

Key points Record cash earnings of $17b, up $3b on half, driven by net interest margin (NIM), trading income, strong cost management and non-recurrence of notables Return on equity (ROE)

continue reading

ESG reporting continues to progress among ASX200, yet disclosure levels still need to improve to meet upcoming ISSB standards

From

Australian entities are making significant advances in their environmental, social and governance (ESG) reporting. There has been a steady increase in the comprehensiveness of ESG reporting across Australia’s leading companies

continue reading

Emerging strong on shifting sands – PwC Major Banks Analysis

From

Key points Cash earnings returned to pre-pandemic levels at $26.8b (from $17.4b last year), return on equity recovered to 9.9%. Adjustments to credit provisions provided a net benefit of $0.8b

continue reading

Financial institutions spend 14% of operating costs on change management

From

Financial institutions are spending, on average, 14% of annual operating costs on change management functions in order to drive greater productivity gains, a new PwC study has shown. According to

continue reading

Financial institutions to significantly increase use of gig economy workers to upskill workforce

From

More than half (52%) of financial institutions say they expect to have more gig-based employees over the next three to five years, according PwC’s report, “Productivity 2021 and beyond: Upskilling the

continue reading