Overall, the trends identified in last year’s survey continued, with stable employment figures and client numbers, increased assets and lending. The major changes in customer behaviour due to the health pandemic, particularly the use of digital solutions for transactions, have become embedded and are now the norm.
Growth in assets
Money under management (assets and liabilities) has increased by 7.7%. The number of clients has remained stable.
The majority of assets are held on current or savings accounts. However the number of securities portfolios has increased by 16%.
The major behavioural shift seen during the pandemic – the move away from cash transactions and away from physical interactions with the bank branch – has become the norm.