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This annual update forecasts developments and trends affecting Hong Kong’s banking sector in 2021.

In this report, KPMG experts provide a number of predictions for the banking industry across 10 key areas. Unsurprisingly, the transition to a new reality brought about by COVID-19 is a key theme that is woven throughout many of these focus areas.

Overall, the outlook for 2021 is focused on two broad themes. The first is the rapid transformation of business models and operating models as a result of the pandemic, and the acceleration of digital transformation initiatives as part of this. The second theme is around Hong Kong’s continued role as an international financial centre, and as a conduit for both inbound capital into mainland China and Chinese outbound investment.

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