Ceto and Associates Launches Profitability Enhancement Playbook for Financial Institutions to Ease COVID-19 Pandemic Pressures
Jul 28, 2020 12:16:11 PM
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ATLANTA (July 28, 2020) – Ceto and Associates, one of the nation’s leading management consulting firms releases a 3-step guide to improving profitability for financial institutions now and in the future. The banking industry has been experiencing a considerable amount of change and development over the past decade, including most recently, the current disruptions from the COVID-19 pandemic, producing a historically low interest rate environment and margin compression. Consequently, financial institutions will be faced with many extraordinary financial pressures in the months and years ahead.
“Community financial institutions have extended unparalleled support to their customers and members, while simultaneously facing the inevitability of loan losses and significant reductions in interest income just on the horizon due to the economic conditions created by the Coronavirus” said Douglas Ceto, President of Ceto and Associates. “For this reason, our firm has launched a playbook for these financial institutions based on our 25 years of success in profitability enhancement that will serve as a step-by-step guide they can implement now to fulfill any profitability gaps and ensure long-term financial stability.”
The Profitability Enhancement Playbook was built to help community-based financial institutions uncover how competitive intelligence and business intelligence can be leveraged to optimize revenue, reduce expense, and improve their efficiency ratio.
“Banks and credit unions are important to their respective communities because they support them with jobs, philanthropy, financial education, consumer and commercial loans, and a host of other valuable financial products and services,” said Robert Monteith Jr., Senior Vice President of Ceto and Associates. “The Profitability Enhancement Playbook provides important guidance to these financial institutions to help them improve their earnings so that they can remain strong pillars in their communities and help grow their local economies.”
Founded in 1994, Ceto and Associates is a highly respected and nationally recognized management consulting firm with more than 2,000 clients across North America. The firm specializes in solutions focused on increasing profitability through its revenue enhancement, expense reduction and operational efficiency services. Through these services, Ceto and Associates and its sister company have increased the average earning assets in the banking industry by more than $5 billion and increased the profitability of its clients by more than 20 percent annually. For more information visit www.ceto.com.