The Loans as a percentage of GDP in United States of America attained a value of 47.95% in 2023
The indicator recorded a historical change (bps difference) of -279.77 bps between 2020 to 2023, and is expected to reach ...
GlobalData projects the figure to change by ...
Loans as a percentage of GDP in the United States of America recorded a low-single-digit YoY decline in 2022
Loans as a percentage of GDP in the United States of America grew between 2017-2020, followed by a low-single-digit YoY decline in 2022.
The US retail lending market is populated by a large number of financial institutions with the leading players consisting of the country’s largest retail banks such as Wells Fargo, JPMorgan Chase and the Bank of America as well as specialized home loan companies including Quicken loans and United Wholesale Mortgage. The US has a vast number of financial technology companies which have caused significant disruption to the banking industry in recent years. The retail lending sector has been less influenced by emerging FinTechs but there are a number of digital lending platforms which have infiltrated the market space and offer attractive digital financial lending solutions capable of competing with traditional retail banks. In response, the leading banks in the US have invested in the digitalization of their financial services including mortgage and personal loans application and payments which hope to mitigate disruption caused by emerging FinTechs such as California based SoFi. Member-owned financial cooperative, credit unions also occupy a large portion of the US retail lending market.
Loan means commercial loans: Commercial lending reflects the value of outstanding loans provided by banks and other financial institutions to organizations for their business purpose. It includes loans to financial and non-financial businesses and public sector enterprises. Loans to unincorporated businesses, governments, and non-residents are excluded. Business borrowing in the form of debt securities such as commercial papers, bonds, and debentures will not be covered in this database.
Five Forces Analysis
The large size of the US retail lending market diminishes the buying power of individual customers, as the impact of losing one customer is not overly significant. Furthermore, the constant demand for housing and mortgages creates a large number of customers available to key players. However, a large number of financial institutions with competitive interest rates help increase the power of consumers who are free to choose who provides their loan or mortgage.
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