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Sector Analysis
Ireland Retail Banking 2020 - Review, Forecasts, and Future Opportunities
This report explores trends in the Irish retail banking sector and provides insight into consumer preferences and behaviors. It highlights some of the most important data points available on the performance of the sector compared to other markets as well as the performance and perception of firms within the industry. New trends and innovations are also noted, as are the implications of COVID-19 for the sector. Growth in the Irish retail banking sector has been moderate over the past decade,...
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Sector Analysis
Hong Kong Retail Banking Market Size, Share & Trends Analysis and Forecast 2021 – 2025
The retail banking sector in Hong Kong has shown growth despite the recent impact of COVID-19. Residential mortgages and retail deposits recorded the highest compound annual growth rates (CAGRs) in the region, with the exception of China. Consumer credit lending showed a strong CAGR in personal loans, again only trailing the Chinese market. However, growth across credit cards was weaker as economic activity decreased due to the pandemic. The Hong Kong market has witnessed a triple threat over the last...
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Sector Analysis
Australian Retail Deposits 2019: Review, Forecasts, and Future Opportunities
The Australian retail deposits market has been characterized by weaker growth of 5% in 2019 (A$1,168bn [$764bn]) compared to previous years and is forecast to grow close to that level until 2023. Weak GDP growth and poor consumer sentiment have persuaded consumers to save rather than spend, despite falling interest rates. The shrinking gap between deposits products has led to a market preference for on-demand deposits over term deposits. Meanwhile, fee income has fallen for the first time in years,...
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Sector Analysis
Canada Retail Banking 2020 - Review, Forecasts, and Future Opportunities
Growth in Canada’s retail banking sector has been consistent over the past decade, with the country avoiding the type of recessionary effects experienced by other economies post-2008. However, COVID-19 threatens to significantly alter trajectories and forecasts in 2020 and 2021. A V-shaped recovery is expected in Canada that could potentially see growth post-COVID-19 follow similar trends and rates to those pre-COVID-19. Overall the Canadian economy has experienced higher compound annual growth rates in credit card balances, mortgage loans, and retail...
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Sector Analysis
Australian Retail Banking 2020 - Review, Forecasts, and Future Opportunities
Growth in the Australian retail banking sector has been consistent over the past decade, but has been weak in recent years. COVID-19 will compound the poor performance that was forecast for this year, significantly altering trajectories of all major economic indicators and measures of growth. Despite fewer cases of the virus and overall containment of its spread, recovery is still not expected until 2021. This report explores trends in the Australian retail banking sector and offers insight into consumer preferences...
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Sector Analysis
United Kingdom (UK) Retail Banking 2020 - Review, Forecasts, and Future Opportunities
Growth in the UK retail banking sector has been consistent over the past decade following the global financial crisis, although COVID-19 will significantly alter trajectories and forecasts in 2020 and 2021. A V-shaped recovery is expected and could potentially see growth post-COVID-19 follow similar trends and rates to those pre-COVID-19. Following a decade of austerity, a return to this policy to reduce the deficit and debt incurred during the COVID-19 period is unlikely due to the political consequences for the...
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Sector Analysis
Forming an Early Connection - Insight into Children’s Banking
Financial education is central to a kid’s banking proposition. This is almost universally considered the most important feature among all consumers, albeit to different degrees in individual countries. Education can come in a variety of forms, including games, stories, lesson content, and real world experience. Banks and financial services providers have created a large range of children’s banking propositions across the world. GlobalData has chosen both good and bad examples to highlight innovative ways of addressing the needs of both...
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Sector Analysis
India Retail Banking: Opportunities and Risks to 2023
Based on our proprietary datasets, this report analyzes the Indian lending market, with a focus on the consumer lending segment. The report discusses in detail the credit card, personal, and mortgage loan markets, covering market size, competitors’ market shares, and survey insights. The report also provides a market overview and insights on the retail deposit segment. In addition, it covers the key digital disruptors in India’s retail lending segment. Total loan balances outstanding (including credit card balances, personal loan balances,...
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Company Insights
Competitor Profile: 86 400
86 400 is an Australian mobile-only bank founded by Anthony Thomson, who previously founded Metro Bank and Atom Bank. The name 86 400 comes from the number of seconds in the day, alluding to the bank being there for the customer every second of every day. The bank is fully licensed, has no branches, and while it has a website, products can only be bought through its mobile app. 86 400 offers current and savings accounts, as well mortgages for...
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Company Insights
Enterprise Tech Ecosystem Series: Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce (CIBC) has been focusing on using artificial intelligence, cloud, blockchain, and online payments to digitally transform its operations. The annual ICT spending of CIBC was estimated at $1.02 billion for 2020. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. CIBC is a provider of personal, small business, commercial and corporate banking solutions. Under personal banking, it offers accounts, overdrafts, credit cards, loans, mortgages, investments, retirement planning,...
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