Industry invested in market expansion and technology, but tariffs loom. If banks could sum up 2024 in a few words, they would be policy-rate cuts, tighter regulation, and technological investments. Of these, rate cuts affected net interest margins (NIMs) negatively to the overall detriment of profitability, with one notable exception being Japan, while technology advancements continued to transform banks’ traditional ecosystems. Return on equity (ROE) was solid across the global banking system