1、Enabling employees to drive bank effectiveness and efficiency|1 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Enabling employees to drive bank effectiveness and efficiencySeptember 2022|home.kpmg2

2、|Enabling employees to drive bank effectiveness and efficiency 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Banks cost-to-income ratios have risen since the pandemic,reversing a downward trend.As

3、 banks renew their cost optimization efforts,employee productivity is a key battleground.In this article we discuss the performance of cost-efficient banks,and the levers available to reduce cost.Cost transformation has been elevated to a new level since COVID-19.During the pandemic,there was an und

4、erstandable shift away from cost reduction to supporting financially-stressed customers.Operational costs rose for a number of reasons such as enabling work from home,as banks funded both telecoms and hardware for employees,while still bearing the fixed costs of often empty or underpopulated branche

5、s and offices.According to the 200 bank executives surveyed in KPMG Internationals recent report New cost imperatives in banking,cost management is rated a“top concern”,with 61 percent saying that cost reduction has become a higher strategic priority since the pandemic.Even though two-thirds of resp

6、ondents set a cost savings target of more than 10 percent of their cost base between 20212024,they also conceded that such aims may be hard to achieve;less than half felt their organizations had achieved previous cost goals.To gain a clearer picture of how banks are tackling cost,KPMG carried out in

7、-depth benchmarking of the cost performance of 60 large banks across the world between 20142021.We identify the drivers behind their performance,and discuss how banks can improve their productivity and boost their returns.Introduction2|Enabling employees to drive bank effectiveness and efficiency 20

8、22 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Enabling employees to drive bank effectiveness and efficiency|3 2022 Copyright owned by one or more of the KPMG International entities.KPMG Internationa

9、l entities provide no services to clients.All rights reserved.Cost efficiency performanceOur benchmarking findings(60 large banks across the world between 20142021)reinforce the importance of cost efficiency,finding a strong correlation between cost-to-income ratio(CIR)and return on equity(ROE)for t

10、his large sample.Cost-efficient banks deliver higher returns than their less-efficient competitorsSource:CapitalIQ database;KPMG analysisAldermore GroupBank of ScotlandBarclaysHSBCLloydsNationwide Building SocietyNatWestBanco SantanderStandard CharteredThe Royal Bank of ScotlandTSB Banking GroupVirg

11、in Money UKYorkshire Building SocietyBoACapital One FinancialCitigroupJPMCMorgan StanleyBNY MellonGoldman SachsPNC FinancialWells FargoUS BancorpBank of MontrealCanadian Imperial Bank of CommerceRBCBank of Nova ScotiaToronto-Dominion BankANZ BankCommonwealth Bank of AustraliaMacquarie GroupNational

12、Australia Bank LimitedWestpacAgricultural Bank of ChinaBank of ChinaICBCBNP ParibasCrdit AgricoleDeutsche BankUniCredit MUFJMizuho Financial GroupNomuraCoperatieve RabobankDBS GroupOversea-Chinese Banking CorporationUnited Overseas BankIndustrial Bank of KoreaKB FinancialShinhan FinancialBBVACredit

13、SuisseUBS GroupBank of IrelandClose Brothers Group20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%100.0%110.0%-3.0%0.0%3.0%6.0%9.0%12.0%15.0%18.0%Average return on equityAIB GroupING GroepTruist FinancialAverage cost-income ratio-6.0%-4.0%-2.0%0.0%2.0%4.0%6.0%AIB GroupAldermore GroupBank of ScotlandBarclays

14、HSBCLloydsNationwide Building SocietyNatWestBanco SantanderStandard CharteredThe Royal Bank of ScotlandTSB Banking GroupYorkshire Building SocietyBoACapital One FinancialCitigroupJPMCMorgan StanleyBNY MellonGoldman SachsPNC FinancialTruist FinancialUS BancorpWells FargoBank of MontrealCanadian Imper

15、ial Bank of CommerceRBCBank of Nova ScotiaToronto-Dominion BankANZ BankCommonwealth Bank of AustraliaMacquarie GroupNational Australia Bank LimitedWestpacAgricultural Bank of ChinaBank of ChinaICBCBNP ParibasCrdit AgricoleDeutsche BankUniCredit MUFJMizuho Financial GroupNomuraCoperatieve RabobankING

16、 GroepDBS GroupOversea-Chinese Banking CorporationUnited Overseas BankIndustrial Bank of KoreaKB FinancialShinhan FinancialBBVAUBS GroupBank of IrelandClose Brothers Group-120.0%-90.0%-60.0%-30.0%0.0%30.0%60.0%Change in return on equityChange in CI ratio(FY14-21)Source:CapitalIQ database;KPMG analys

17、isIts therefore little surprise that banks who can improve cost efficiency typically enjoy a subsequent increase in ROE while those whose CIR falls see a decline in equity returns.Improving cost-to-income ratio(CIR)increases ROE and vice versa4|Enabling employees to drive bank effectiveness and effi

18、ciency 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Given the importance of cost,the banking sectors pre-COVID performance could be described as moderately successful,with CIR falling from 64.9 p

19、ercent to 60.8 percent between 2014-2019.Since the pandemic,however,costs have crept up again to 61.6 percent in 2021 a trend observed across all regions.This primarily reflects higher staff costs(higher volumes of customer enquiries,higher absenteeism),increased technology costs(accelerated digital

20、 development,cost of telecoms and hardware to support working from home)and higher levels of loan loss provisioning.CI ratio,interest income,non-interest income and expenses,FY1421,by regions55%60%65%70%60%70%80%90%44%46%48%50%52%AmericasEuropeAsia-PacificFY14FY15CAGR=(2%)CAGR=0.7%FY16FY17FY18FY19FY

21、20FY21FY14FY15FY16FY17FY18FY19FY20FY21FY14FY15FY16FY17FY18FY19FY20FY21Cost/income ratioCost/income ratioCost/income ratio61.5%65%80.9%76.8%71.4%67.9%68.8%70.0%67.9%75.7%48.3%48.6%47.9%49.2%47.3%48.2%51.0%50.9%61.7%61.4%59.9%60.7%61.0%62.9%CAGR=(3%)CAGR=0.7%CAGR=(0.5%)CAGR=3%CIR fell consistently pre

22、-COVID but has since risen slightly Source:CapitalIQ database;KPMG analysisEnabling employees to drive bank effectiveness and efficiency|5 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Drivers of

23、cost efficiencyDuring periods of growth and decline,the ratio between operating costs(non-interest expenses)and income has remained remarkably consistent for our large global sample of banks.Our analysis focuses on net interest income as a good proxy for underlying levels of customer activity.Such a

24、 metric is useful given the global trend to reduce or remove fees in retail banking,and because market volatility can otherwise be a big driver of financial markets income.With the huge investment in digitization,one might have expected expenses to have become more de-coupled from income,as automate

25、d and scalable platforms should deliver relatively stable costs regardless of the number of customers or transactions.So,why are banks struggling to contain costs?One of the main reasons is the continued rise of employee costs,despite a significant reduction in the number of full-time employees(FTEs

26、).While the 60 banks studied decreased their total headcount by 50,000 between 20142021,total compensation went up by 12.5 percent,with average costs rising from US$91,800 to US$104,500 per employee.This increase reflects the bargaining power of in-demand technology and risk professionals,along with

27、 broader wage inflation.Operating costs closely track net interest incomeFY141.071.041.031.000.970.971.011.05FY15FY16FY17FY18FY19FY20FY21Non-interest expenses/net interest income ratio during FY1421,globallySource:CapitalIQ database;KPMG analysisGlobal:Compensation cost/FTE analysis of banksTotal FT

28、E in000sCompensationcost,in US$billionCompensationcost/FTE,US$000sFY14FY15FY16FY17FY18FY19FY20FY21FY14FY15FY16FY17FY18FY19FY20FY21FY14FY15FY16FY17FY18FY19FY20FY214,9475,0864,9954,9984,9764,9694,9164,8975459448456454104.5100.597.593.891.889.789.791.8Remarkably,employee costs as a proportio

29、n of total costs have risen in recent years suggesting that digitalization and automation has yet to deliver the intended cost efficiencies.This analysis shows that banks investments in automation have not had the desired cost-efficiency effect,despite achieving the intended reduction in staff numbe

30、rs because improvements in people productivity have failed to keep pace with remuneration growth.Employee productivity should,therefore,be a top priority for banks eager to improve ROE by increasing cost efficiency.Source:CapitalIQ database;KPMG analysis6|Enabling employees to drive bank effectivene

31、ss and efficiency 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Total staff remuneration costs rise despite employee numbers falling significantlySource:CapitalIQ database;KPMG analysisEnabling em

32、ployees to drive bank effectiveness and efficiency|7 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.In spite of technology investment,staff compensation as a proportion of total costs has risenAver

33、age proportion of non-interest expenses components during FY1421,globallyFY14FY15FY16FY17FY18FY19FY20FY200CompensationTechnologyOccupancyProfessional servicesMarketingOthers47.2%47.8%50.9%50.2%50.6%50.3%49.6%51.2%7.9%8.2%8.8%8.9%10.2%10.6%11.0%11.2%7.8%7.7%8.0%7.9%7.8%7.1%7.8%7.2%5.3%5.4%

34、5.6%5.4%6.5%6.1%6.2%6.3%3.1%3.1%3.2%3.1%3.2%3.0%2.4%2.6%28.7%27.8%23.5%24.5%21.7%22.9%23.0%21.5%8|Enabling employees to drive bank effectiveness and efficiency 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights

35、 reserved.Identifying and implementing productivity improvementsAlthough banks have made considerable progress in applying digitization and automation across the value chain,there are ample opportunities to improve cost efficiency through the use of technology.For instance,the technology estate for

36、higher skilled,middle-office teams such as Risk,Finance and HR can often be modernized to lift productivity.KPMGs New cost imperatives in banking report recommends that a focused cost agenda looks at activity through three key lenses:Strategy:Defining the long-term vision and plan for the bank;inclu

37、ding the markets,products and business models that deliver customer relevance and shareholder value.Simplicity:Ensuring the banks organizational,accountability and governance arrangements enable fast decision-making and operational agility,to drive both change the bank and run the bank cost efficien

38、cy.Engineering:How banks deliver services to their clients,including channels to market,use of technology,and roles and capabilities of people.Within this approach weve identified 12 cost transformation levers.In light of the high people costs associated with banks,employee productivity should be hi

39、gh on the agenda,enabled by technology investment.Areas for improvement include continued operational efficiency through process automation and digitization;efficient,platform-driven distribution models encompassing retail branches,relationship managers,contact centers and digital channels;and data-

40、enabled functional support services such as Risk and Finance across the bank.12 Levers of Cost TransformationMacro cost lens12 levers of cost reductionExample opportunities1.Strategy1.1 Geographies,markets,products Reduce presence in low performing customer segments and product areas1.2 Operating mo

41、del&balance sheet Reduce the cost of funding by optimizing the balance sheet2.Simplicity2.1 Organizational modelReduce organizational complexity,including management and governance layers2.2 Transformation optimizationCreate a core organizational capability around transformation2.3 Cost management f

42、ocusDrive a cost focus through strategy and accountability3.Engineering3.1 Digitization&operational efficiencyDigitize work from front to back office and drive enterprise wide automation3.2 Channel optimizationDigital shift with interventions to drive behavioral change 3.3 Organization design and Pe

43、opleDrive the simplification of the organizational model throughout the bank,focus on spans and layers,realignment of pay and rewards3.4 Technology optimizationAccelerate the migration of critical environments to the cloud,decommissioning of obsolete applications and the removal of the data centres3

44、.5 Property optimizationRationalization of operations between head offices and regions3.6 Sourcing&Supplier ManagementDrive 3rd party spend down through challenge of integrated supply and demand3.7 Tax&Legal optimizationOptimization of tax and legal structuresEnabling employees to drive bank effecti

45、veness and efficiency|9 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Key levers of cost efficiencyDigging deeper,here are some examples of the key levers for achieving lower cost through higher p

46、roductivity:Reducing excess management reporting:simplifying decision-making,as well as zero-based design of reporting services,to reduce the burden in terms of granularity,frequency,format and associated discussion meetings for management reporting.This should significantly lift the productivity of

47、 the professionals tasked with upwards reporting.Such a move is especially relevant for support functions such as Finance and Risk,who typically face large,onerous reporting requirements.Automating transformation dashboards:producing real-time dashboards for all transformation projects within the ba

48、nk,allowing project teams to spend more time on transformation,and less time on status reporting.Given that all initiatives should share common and standard key performance indicators,a dashboard approach can prove both appropriate and efficient.Optimizing distribution platforms:using customer segme

49、ntation,customer journey design and sales and service process digitization to optimize legacy distribution models.Better use of technology creates assisted distribution platforms that make better use of the unique skills of the humans in the field,branches and contact centers.The optimized use of di

50、gital channels and self-service frees up frontline staff to focus their efforts on the highest value customers and customer interactions.Automating and digitizing back-office processes:in many banks there has been a slowing down of results from process efficiency improvements,after early efficiency

51、wins from workflow automation,robotic process automation and digitization.However,in areas such as customer due diligence and credit,many highly manual processes remain,with unnecessary reliance on bank staff for standardized inputs and intervention.In addition,growing use of machine learning and ar

52、tificial intelligence increases the scope of processes that can be re-designed to lift productivity.Rationalizing and automating risk controls:reducing manual risk controls by lowering the number of controls and increasing the use of smart technology.As risk professionals are scarce and come at a pr

53、emium,they should be used by banks where they are most needed and can add greatest value.As many risk controls are standardized and repetitive by nature,human intervention should be optimized.Simplifying run the bank infrastructure:with an aim to reduce IT costs.Standardization of technology estates

54、,and better interoperability of technology components,widens the scope for more efficient(out)sourcing of infrastructure.Similarly the move to cloud reduces the need for on-premise IT infrastructure and associated technology staff.Three phases to embed productivity and efficiencyAlthough most or all

55、 banks are actioning the above levers to some degree,the failure to significantly improve operating costs suggests that more could be done to optimize the impact of transformation initiatives notably with regard to employee productivity.We propose that banks adopt a three-phase approach for a perman

56、ent operational and culture shift towards greater cost efficiency:Phase 1:QualifyFaced with a host of cost-reduction initiatives,CFOs need a robust,standardized qualification process that assesses initiatives objectives,feasibility and measurable key results.This enables like-for-like comparisons.In

57、 particular,transformation business cases need to be outcome-based,with clear efficiency and productivity targets supporting funding requests.Phase 2:PrioritizePriority should be given to initiatives that can deliver significant,ongoing cost efficiencies(including staff productivity),are achievable

58、within agreed time frames,and are aligned with strategy.Banks can then compare business cases and prioritize those with the biggest impact.Importantly,initiatives should fit within the change and investment capacity of the bank,as new and in-flight projects compete for scarce transformation capabili

59、ties.Phase 3:ManageLike a car navigation system that re-routes when traffic occurs,the ability to alter direction is essential,to overcome barriers and adapt to changing circumstances.This transformation agility needs to be underpinned by accurate and real-time performance reporting.Only through a g

60、enuine understanding of the budget,performance and delivery status of their transformation initiatives can banks manage these programs in a timely fashion.10|Enabling employees to drive bank effectiveness and efficiency 2022 Copyright owned by one or more of the KPMG International entities.KPMG Inte

61、rnational entities provide no services to clients.All rights reserved.Key insightsKPMGs benchmarking highlighted that cost efficiency is a major contributor to banks ROE,as well as that banks globally have struggled to fundamentally improve their cost performance.As employee remuneration is the larg

62、est and growing component of bank costs,it makes sense to focus on employee productivity as the biggest driver of bank cost performance.This recommendation is supported by the finding that employee costs have continued to rise in importance despite increasing technology expenditure:recent investment

63、s in technology have failed to improve employee productivity.Banks should identify which cost levers they have available to improve employee productivity,both through simplification and through technology investments.There are a large number of strategy,simplicity and engineering cost levers to impr

64、ove productivity.Existing or planned initiatives that are not resulting in a employee productivity uplift should be re-evaluated,as they will further add to the banks cost base.In planning for and implementing these transformation initiatives,banks should adopt a strict three-phase approach:Qualify

65、initiatives rigorously to enable comparison Prioritize initiatives based on their impact Manage transformation continuously based on real-time reportingBanks that improve employee productivity through a deliberate transformation program,will be rewarded with better cost efficiency and higher returns

66、.Source:CapitalIQ database;KPMG analysisEnabling employees to drive bank effectiveness and efficiency|11 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.BanksReturn on equityCI ratioRevenueAIB Group

67、6.1%56.3%3,146Aldermore Group11.7%52.8%326Bank of Scotland11.8%52.6%8,428Barclays3.6%68.1%26,715Co-Operative Bank Holdings-9.2%171.9%524HSBC5.7%62.9%50,623Lloyds5.9%71.0%22,016Nationwide Building Society6.4%64.3%4,137NatWest1.0%77.9%17,185Banco Santander6.2%53.0%42,288Standard Chartered2.0%69.5%13,3

68、37The Royal Bank of Scotland11.0%57.8%1,218TSB Banking Group3.0%84.8%1,260Virgin Money UK-2.1%74.3%1,503Yorkshire Building Society6.2%62.5%710BoA7.7%66.9%83,562Capital One Financial9.8%52.6%21,446Citigroup6.3%61.3%66,984JPMC11.7%58.4%1,01,797Morgan Stanley9.8%70.6%35,524BNY Mellon9.0%69.6%15,764Gold

69、man Sachs10.4%65.4%34,619PNC Financial9.2%63.1%15,782Truist Financial8.4%61.1%13,197US Bancorp12.9%55.7%20,097Wells Fargo10.5%64.7%81,164Bank of Montreal11.9%65.8%16,986Canadian Imperial Bank of Commerce15.7%59.2%12,216RBC16.0%61.0%31,438Bank of Nova Scotia13.3%53.7%19,662Toronto-Dominion Bank13.8%5

70、8.8%27,088ANZ Bank11.1%46.8%13,627Commonwealth Bank of Australia14.3%43.1%17,256Macquarie Group13.6%70.4%8,055National Australia Bank Limited10.9%47.0%12,729Westpac11.6%47.1%14,986BanksReturn on equityCI ratioRevenueAgricultural Bank of China13.7%37.8%71,846Bank of China12.3%36.5%64,792ICBC14.2%31.6

71、%94,077BNP Paribas6.6%66.5%45,652Crdit Agricole6.4%62.7%19,824Deutsche Bank-1.6%85.0%30,374UniCredit-0.5%67.8%15,997MUFJ6.2%66.0%37,470Mizuho Financial Group6.2%68.5%23,647Nomura6.2%39.0%10,120Coperatieve Rabobank5.7%65.3%12,945ING Groep8.4%56.2%18,829DBS Group10.7%43.6%8,455Oversea-Chinese Banking

72、Corporation10.5%39.2%6,438United Overseas Bank10.1%43.5%5,933Industrial Bank of Korea7.5%55.5%5,290KB Financial8.1%62.1%13,555Shinhan Financial8.5%52.6%8,792BBVA8.5%51.3%20,875Credit Suisse0.6%87.7%23,802UBS Group8.4%78.6%30,564Bank of Ireland6.1%63.6%3,062Close Brothers Group15.1%63.3%1,028Appendix

73、:1Source:CapitalIQ database;KPMG analysis12|Enabling employees to drive bank effectiveness and efficiency 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Appendix:2BanksChange in return on equityCha

74、nge in CI ratio(FY1421)RevenueAgricultural Bank of China-8.3%-2.3%71,846Bank of China-6.8%-0.6%64,792ICBC-7.6%-0.3%94,077BNP Paribas45.7%-0.3%45,652Crdit Agricole8.0%-1.4%19,824Deutsche Bank6.0%-0.7%30,374UniCredit-8.8%1.0%15,997MUFJ-3.2%-2.6%37,470Mizuho Financial Group-8.2%2.0%23,647Nomura-5.8%-2.

75、0%10,120Coperatieve Rabobank9.2%-0.2%12,945ING Groep9.9%-0.7%18,829DBS Group1.8%0.8%8,455Oversea-Chinese Banking Corporation-4.4%-0.2%6,438United Overseas Bank-2.5%1.0%5,933Industrial Bank of Korea4.3%0.7%5,290KB Financial8.8%5.4%13,555Shinhan Financial2.4%0.1%8,792BBVA7.7%-2.7%20,875Credit Suisse-1

76、96.4%0.3%23,802UBS Group8.6%-2.7%30,564Bank of Ireland1.0%1.4%3,062Close Brothers Group-3.0%0.5%1,028BanksChange in return on equityChange in CI ratio(FY1421)RevenueAIB Group-7.1%3.7%3,146Aldermore Group-1.6%-1.8%326Bank of Scotland-0.1%2.4%8,428Barclays66.5%-4.0%26,715HSBC-0.8%-0.2%50,623Lloyds19.2

77、%-5.0%22,016Nationwide Building Society-6.1%0.8%4,137NatWest28.1%-3.2%17,185Banco Santander3.1%0.3%42,288Standard Chartered-3.6%2.6%13,337The Royal Bank of Scotland43.3%-3.7%1,218TSB Banking Group-3.1%0.8%1,260Virgin Money UK-202.6%-5.2%1,503Yorkshire Building Society1.6%-4.0%710BoA26.2%-3.8%83,562C

78、apital One Financial10.4%0.1%21,446Citigroup17.2%-1.2%66,984JPMC8.1%-0.7%1,01,797Morgan Stanley15.6%-3.8%35,524BNY Mellon3.0%0.4%15,764Goldman Sachs10.3%-2.6%34,619PNC Financial1.5%1.3%15,782Truist Financial-0.3%0.6%13,197US Bancorp0.9%2.0%20,097Wells Fargo-1.0%2.3%81,164Bank of Montreal0.6%-2.0%16,

79、986Canadian Imperial Bank of Commerce-2.4%-1.8%12,216RBC0.0%-0.5%31,438Bank of Nova Scotia-1.5%-0.1%19,662Toronto-Dominion Bank-0.1%-1.1%27,088ANZ Bank-6.1%2.4%13,627Commonwealth Bank of Australia-6.1%1.4%17,256Macquarie Group3.5%-1.5%8,055National Australia Bank Limited-0.8%-1.6%12,729Westpac-9.5%3

80、.9%14,986Enabling employees to drive bank effectiveness and efficiency|13 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.How KPMG can helpKPMG has an international team of cost transformation profe

81、ssionals that works with the worlds leading global,regional and local banks.We can help you assess potential earnings improvements,define functional cost-saving strategies,and develop an execution plan tailored to your organization.We have experience helping clients drive value by creating integrate

82、d digital strategies,improving M&A integration and organizational alignment,and restructuring operating models.We dig deep into the root causes of inefficiencies and provide holistic insights that can help make your entire bank more responsive,more cost-efficient and more effective in the face of ch

83、ange.Enabling employees to drive bank effectiveness and efficiency|13 2022 Copyright owned by one or more of the KPMG International entities.KPMG International entities provide no services to clients.All rights reserved.Hessel Verbeek KPMG Australia E:.auOwen Lewis KPMG in Ireland E:owen.lewiskpmg.i

84、eASPACEMAAmericasAuthors Contacts The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity.Although we endeavor to provide accurate and timely information,there can be no guarantee that such information is accurat

85、e as of the date it is received or that it will continue to be accurate in the future.No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.2022 Copyright owned by one or more of the KPMG International entities.KPMG Int

86、ernational entities provide no services to clients.All rights reserved.KPMG refers to the global organization or to one or more of the member firms of KPMG International Limited(“KPMG International”),each of which is a separate legal entity.KPMG International Limited is a private English company lim

87、ited by guarantee and does not provide services to clients.For more detail about our structure please visit home.kpmg/governance.The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization.Designed by Evalueserve.Publication name:Enabling

88、employees to drive bank effectiveness and efficiencyPublication number:138256-G Publication date:September 2022home.kpmg/socialmediaKazushige KoideKPMG in JapanE:Frank J.W.LiKPMG Mainland ChinaE:Hessel Verbeek KPMG AustraliaE:.auStphane DehaiesKPMG in the UKE:stephane.dehaieskpmg.co.ukOwen LewisKPMG

89、 in IrelandE:owen.lewiskpmg.ieKai KramerKPMG in GermanyE:Robert RuarkKPMG in the USE:Aris KossorasKPMG in CanadaE:ariskossoraskpmg.caRicardo AnhesiniKPMG in the LATAME:.brCdric de LavaletteKPMG in FranceE:cdelavalettekpmg.frJaime ManzanoKPMG in Spain E:jaimemanzanokpmg.esLennart de VriesKPMG in the NetherlandsE:devries.lennartkpmg.nl