The year 2023 proved to be a challenging one for the banking industry, with several major banks facing downfall and collapsing in the US. However, amidst this turbulent environment, many bank managers successfully navigated through the storm.
A notable story of the year was the divergent paths taken by Credit Suisse and UBS, two banks operating under similar conditions. Looking back, it is clear that their outcomes were significantly different.
While the hype around trends like the “Metaverse” and “Digitalization” has faded, the impact of digitalization on the banking sector has been modest. However, areas such as payment services and retail banking have seen efficiency gains.
The cryptocurrency world faced a reality check in 2023, as many ambitious projects turned out to be virtual castles in the air. The idea of substituting trust with technological solutions proved to be susceptible to abuse, justifying the skepticism of many bankers towards the crypto world.
The case of real estate tycoon René Benko serves as a reminder of the importance of humility. Even in the semi-institutional segment of ultra-high-net-worth individuals, committees can be swayed by well-known names or the prospect of significant new funds. Judgment based on experience and healthy skepticism is crucial when approving transactions with top clients.
Looking beyond the headlines and technology hype, 2023 highlighted the significance of human factors in banking. Strategically considered management decisions, made with a steady hand, often against the trend, proved to be more significant in the long run.
Overall, 2023 can be seen as a year of many good decisions made by bank managers and boards of directors. Congratulations to all those who played a part in these successes, but it is important to remain grounded and not get carried away.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇨🇭 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | None |
| Companies | None |
| Currencies | None |
| Securities | None |
