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By Jean-Pascal NEPPER, Head of Banking Insurance and Stanislas CHAMBOURDON, Head of Sales Markets, KPMG luxembourg
It is no question that this past year has been anything but ordinary. Yet, despite a global pandemic, and a cost sensitive and regulatory driven environment, the banking sector in Luxembourg prospered. And it appears the attitude in the region and abroad continues to remain optimistic. In fact, in the 2021 KPMG CEO Outlook Survey, more than half of the global CEOs surveyed said they are confident about growth prospects of the global economy over the next three years. But we must be aware that this growth doesn’t come without a cost. Personal and admin expenses for banks remain on the rise, seeing a 10% increase this year and this trend...
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