Impact of COVID-19 on commercial banking risk management practice: Survey evidence recommendations for practitioners

Abstract

This study aims to discuss the impact of COVID-19 on commercial banking risk management practice. The study used a qualitative study design based on three different approaches: use of primary sources such as journal articles, focus groups and observations on digital trends. The impact of COVID-19 on risk management in commercial banks manifested in many areas such as deteriorating credit quality, increased cash outflows and reliance on digital systems. This study offers practical solutions for mitigating risk in various areas for the banking industry through survey evidence recommendations for practitioners. Although other studies identify the major risks, this study focuses on how to deal with each of these risks.