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Financial Institutions Sentiment Survey 2023
Read time: 10 mins Added: 12/09/23
Financial Institutions Sentiment Survey 2023: Unexpected resilience
Welcome to the eighth annual Lloyds Bank Financial Institutions Sentiment Survey, which is based on our study of more than 100 senior decision makers at UK banks, insurers, wealth and asset managers and more.
We’re happy to share the latest outlook for the sector and wider UK economy, and insights about how this context is informing the industry’s strategic thinking and plans.
Enterprising and innovative
It is pleasing to report that respondents’ outlook for the UK economy has shifted from outright pessimism last year to one of unexpected resilience in 2023.
Leaders believe growth in the financial services sector will outpace the wider economy and more than four in five will maintain or increase their level of investment in the year ahead – demonstrating their determination to remain competitive.
Leading from the front
The report also considers London’s status as a global financial centre, and how this can be enhanced and maintained.
Those surveyed identify a range of opportunities to further enhance London’s position as one of the world’s leading financial services hubs, from improved international relations to changes to regulation.
The AI era
Four in five financial services firms told us that advances in AI will bring significant changes to the UK, and over half see it as an opportunity for their business.
But the report also exposes a gap between awareness and action and asks: “Are too many financial services firms sitting by the sidelines?”
For a more detailed look at the research, download the full report (PDF, 3.6MB)