The global banking & payments industry experienced an 83% drop in company filings mentions of COVID-19 in Q2 2023 compared with the previous quarter, with the highest share accounted for by Public Bank with 79% year-on-year decrease, according to GlobalData’s analysis of over 1,280 banking & payments company filings. GlobalData’s COVID-19 Cross-Sector Impact – Thematic Research report helps understand how the effect of COVID-19 on Banking & Payments sector compares with 17 other key sectors, in terms of equity indices, M&A volumes, jobs index, and filings. Buy the report here.
Notably, COVID-19 was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of online travel and social media, according to GlobalData.
Of the top leading companies in the banking & payments industry, Public Bank had the greatest increase in references for COVID-19 in Q2 2023, compared with the previous quarter. GlobalData identified 41 COVID-19-related sentences in the company's filings - 1% of all sentences - and an increase of 100% in Q2 2023 compared with Q2 2022. Grupo Financiero Banorte’s mentions of COVID-19 rose by 200% to 33 and Nexi’s by 100% to 30 and Itau Unibanco Holding’s by 100% to 28 and 3i Group’s by 100% to 16.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for COVID-19 in Q2 2023 was 117.
To further understand GlobalData's analysis on COVID-19 Cross-Sector Impact - Thematic Research, buy the report here.