The global banking & payments industry experienced an 18% rise in company filings mentions of COVID-19 in Q1 2023 compared with the previous quarter, with the highest share accounted for by HSBC with 87% year-on-year decrease, according to GlobalData’s analysis of over 1,477 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 Q1 2023, ranking highest in terms of mentions, ahead of social and environment, according to GlobalData.
Of the 50 leading companies in the banking & payments industry, HSBC had the greatest increase in references for COVID-19 in Q1 2023, compared with the previous quarter. GlobalData identified 107 COVID-19-related sentences in the company's filings, an increase of 100% in Q1 2023 compared with Q4 2022. Barclays’s mentions of COVID-19 rose by 7200% to 73 and BBVA’s by 1000% to 70 and Lloyds Banking Group’s by 800% to 63 and Toronto-Dominion Bank’s by 1100% to 63.
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 Q1 2023 was 66.
To further understand GlobalData's analysis on COVID-19 Cross-Sector Impact - Thematic Research, buy the report here.