Banks worldwide spend US$1 trillion on digital, but few benefit, study finds [Financial Post (Toronto, Ontario, Canada)]
Accenture plc Class A Ordinary Shares (Ireland) (ACN)
Last accenture plc class a ordinary shares (ireland) earnings: 3/19 06:44 am
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Source: Financial Post
Banks worldwide spend US$1 trillion on digital, but few benefit, study finds Of banks in 21 countries, just over 10 per cent of the largest are now 'a different sort of bank.' They have had the better returns While global banks have been pouring money into information technology — to the tune of US$1 trillion over three years — only a handful appear to be fully committed to a digital transformation and are therefore reaping the benefits, according to an Accenture Plc study. Just 19 banks among the 161 largest retail and commercial banks that the consulting firm examined have been focusing enough on digital strategies to “make the shift to a different sort of bank,” Accenture said in the report, released Thursday. And those that did were rewarded for their efforts, the firm said. All the banks studied, based in 21 countries, started at roughly similar rates of return on equity in 2011, but by 2017 the banks that Accenture identified as “digital focused” had ROE that rose 0.9 percentage
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ACN
Earnings
- 3/21/24 - Beat
ACN
Sec Filings
- 4/24/24 - Form 13F-HR
- 4/22/24 - Form 4
- 4/19/24 - Form 144
- ACN's page on the SEC website