Commercial banks will have to develop niche markets to maintain their market share because of the growing level of competition, some bank chief executive officers have said.
In addition, the financial market has seen a significant reduction in treasury bills yields, one of the major sources of earnings for financial institutions. “On the back of that, one would expect that pricing in the sector for loans and deposits would come under pressure. In order for banks to be profitable, we would expect that a number of them would embark on initiatives that make them more efficient. So, I expect to see more digitalisation and automation and banks basically working at reducing cost profiles.”
“But banks also need to be more innovative and that is what we are doing as a bank, by setting up a digital laboratory.”
Source: News Formal (newsformal.com)
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