The global banking & payments industry experienced a 45% drop in company filings mentions of Covid-19 in Q3 2022 compared with the previous quarter, with the highest share accounted for by IndusInd Bank with 8% year-on-year increase, according to GlobalData’s analysis of over 2,091 banking & payments company filings.
Notably, Covid-19 was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of blockchain and future of work, according to GlobalData.
Of the 50 leading companies in the banking & payments industry, IndusInd Bank had the greatest increase in references for Covid-19 in Q3 2022, compared with the previous quarter. GlobalData identified 169 Covid-19-related sentences in the company's filings - 8% of all sentences - and an increase of 100% in Q3 2022 compared with Q2 2022. HSBC’s mentions of Covid-19 rose by 105.405405405405% to 152 and HDFC Bank’s by 100% to 111.
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 Q3 2022 was 114.