As we go to press, all four of the UK’s
quoted banks have reported full-
year results. The extent of past sins of
misconduct, some of them dating back
a decade or more, is staggering and still
overshadows the results. Compensation
bills for mis-selling and provisions for
pending settlements are in the order of
$15bn–19bn, by bank.
However, it’s never been more evident
that retail banking is healthier than ever
– and that the career opportunities for
retail bankers have never been more
promising.
HSBC, Europe’s biggest bank by assets,
has revealed in its annual report that
retail banking was one of the key drivers
in its 141 per cent year-on-year jump
in profit before tax. Its retail banking
services accounted for $6.5 billion of the
$17.2bn it reported for the full 2017 year,
placing it ahead of global banking and
markets as well as global private banking
in the bank’s revenue stream. Retail
bankers themselves continue to rise to
the most prominent positions – John
Flint, who most recently headed HSBC’s
retail banking and wealth management
business, has made his way to the top as
Group Chief Executive.
In RBA news, we have reached another
significant milestone in support of our
mission to promote retail banking as an
internationally recognised profession.
Certified Retail Banker has been
awarded the Triple E quality standard for
qualifications in the European financial
industry. We at RBA are committed
to supporting every retail banker
worldwide in pursuit of achieving
excellence in customer-centric banking
– and the Triple E Standard is a mark of
excellence that is achievable and can be
put into practice.
And, finally, I’m pleased to tell you
that as retail banking faces a tech-
driven revolution that is sparking more
innovation than the sector has seen in
decades, we’ve brought our Certified
Retail Banker qualification right up to
date across every module and level of
the curriculum to provide the practical
tools and skills retail bankers require to
meet the evolving needs of customers
in a digital age. We have also delivered
a mobile app to facilitate more effective
learning, anywhere, any time and on
any device, without the need for WiFi/
network coverage.
I hope you enjoy reading this first edition
of RBA Focus in 2018. We would love to
hear from you if you would like to make
a contribution to the next edition, in a
few months’ time.
Evelyn Hunter