PwC Malta, in collaboration with FinanceMalta,
has carried out the first local Financial Services Survey. The
survey was carried out between March and April 2016 and was
directed towards the regulated banking, insurance and asset
management institutions. The survey will be held on a
semi-annual basis and will serve to gauge trends and industry
developments over time.
The survey shows that there is strong performance within the
sector with 59% of firms reporting increased business volumes over
the previous six months. Total operating expenditure is
on the increase, driven mainly by increasing levels of employment,
increased salary costs, larger IT expenditure, as well as
increasing costs for regulatory compliance. These increased
costs appear to be impacting the insurance sector in
particular.
