Retail Banking Monitor 2024

2023 has been a successful year for European retail banks. After an already good previous year 2022, retail banks grew their topline significantly in 2023. Banks managed to contain operating cost growth in 2023 to a few percentage points – mainly driven by inflationary pressure.

As a function, the positive gap between revenue and cost has increased considerably in 2023, as banks continued to reap the benefits of interest hikes and margin expansion. Going forward, however, we expect a topline decrease due to interest margin compression, and a continuous cost uplift.

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A year to remember for European retail banks

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