Academy of Entrepreneurship Journal (Print ISSN: 1087-9595; Online ISSN: 1528-2686)


The Impact of Covid-19 Virus on Banking Performance

Author(s): Ammar Imad Khalaf Halboosh and Ali Sh. Abdeol. Wahab

This paper evaluates the consequences of the Covid-19 pandemic on Europe, Asian banks and countries with oil as well it reviews bank stock bills from all around the world in order to assess the impact of the Pandemic on the banking industry. In addition, it studies the influence of finance sector strategical announcements on the performance of bank stocks. Generally, the outcomes indicate that the crisis and the countercyclical lending role that banks are anticipated to play have put banking systems under substantial strain, with bank stocks underachieving their local markets and other non-banking financial companies. Policy initiatives have had varying degrees of success. Recently, the banking system has adjusted constantly – it has been reinvented to keep up with remotsuc prospects and the requisite for cost reductions. The Pandemic has hastened digitalization in the banking system although, the need for innovation and digital strategies have been an important factor in banking even euotcu the Pandemic.

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