Mass Affluent Banking in Western Europe – Regional Breakdown by Market Trends, Investment Preferences and Competitor Benchmarking
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Mass Affluent Banking Market in Western Europe Report Overview
Western Europe has an attractively large segment of the mass affluent population accounting for over 90% of the liquid asset value invested in the region. Equities and mutual funds are the most popular assets besides private pensions and investment properties. Achieving a financially secure and comfortable retirement is the main financial goal of mass affluents. Hence, a large percentage of them prefer accumulating assets instead of repaying their debts. This indicates a demand for long-term investment assets for the Western European mass affluent.
The ‘Mass Affluent Banking in Western Europe’ report analyzes the behaviors and preferences of mass affluent customers in the Western European market. This includes financial goals, banking patterns, investment preferences, and insurance preferences. The report also identifies the banking and investment preferences of the mass affluent customers and gives an insight into the competitive benchmarks used by the banks to strengthen their offerings and gain market share across all Western European countries.
Key Countries | · Belgium
· France · Germany · Italy · Luxembourg · Netherlands · Spain |
Key Investment Channels | · Mobile App
· Online Banking · Instant Messaging · Bank Branch · Chatbot · Video Banking · Call Centre |
Key Investment Preferences | · Equity
· Bonds · ETFs · Mutual Funds |
Leading Banks | · BNP Paribas
· Belfius · Argenta · KBC Bank · ING |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Mass Affluent Banking in Western Europe – Key Drivers
Disinflation, an aging population, financial services, and a political shift to the right are the key factors driving mass affluent banking in the Western European region.
- Aging population: The rapidly aging Western European population can have a positive impact on mass affluent volumes. This is because the population approaching the end of their working lives is likely to have accumulated more wealth with time. Moreover, history’s biggest-ever transfer of wealth is underway as boomers retire and die.
- Financial services: The financial services industry in Western Europe is among the sectors that gained the most from Britain leaving the EU. Nearly half of financial services companies operating in London have operations and staff or are planning to move them, to the EU.
Buy the Full Report for More Insights into the Factors Driving Mass Affluent Banking in Western Europe
Download a Free Sample Report
Mass Affluent Banking in Western Europe – Regional Breakdown
The mass affluent across Western Europe will grow only marginally due to the cost-of-living squeeze. Europe has grappled with low productivity growth for decades, and the effects of population aging and labor supply constraints are slowing growth further.
A few of the countries with the biggest opportunity for capturing mass affluent customers are Belgium, France, Germany, Italy, Luxembourg, Netherlands, and Spain. Germany offers the biggest opportunity in the region, as the country alone accounts for over 11 million of the mass affluent population in Western Europe. Despite the weaker economic performance of Germany in 2024, the affluent segment market is expected to grow by over 10% between 2023 and 2027, the highest rate in the region. The alarmingly aging population and the expected transfer of their wealth will support this growth.
Mass Affluent Banking in Western Europe by Countries, 2023 (%)
Buy the Full Report for the Regional Mass Affluent Banking in Western Europe Download a Free Sample Report
Mass Affluent Banking in Western Europe – Banking Overview
The higher penetration rates for many of the most common credit products make the mass affluent crucial for product managers to consider, particularly in the credit card market. Over half of mass affluents still visit a bank branch at least monthly. Hence, attractive premium banking facilities are a key selling point for these clients. However, online banking and mobile apps remain the most frequently used channels, with over half using these at least weekly.
Mass Affluent Banking in Western Europe by Investment Channels, 2023 (%)
Buy the Full Report for More Western Europe Mass Affluent Banking Market Overview
Download a Free Sample Report
Mass Affluent Banking Market in Western Europe – Investment Preferences Outlook
The key investment preferences of the mass affluent banking market are bonds, equity, mutual funds, and ETFs. Most mass affluents maintain substantial deposits, making them the core market for retail deposits by value. Even though mass affluents make up a small percentage of the total population, most of the value of investments in bonds, equities, mutual funds, and exchange-traded funds (ETFs) are held by them. This indicates a significant opportunity for banks with premium and private banking programs. Bundling attractive investment services to mass affluent premium account packages generates revenue. It can also help retain affluent customers at an earlier stage of their wealth accumulation before they later become private wealth management customers.
Mass Affluent Banking in Western Europe by Investment Preferences Outlook 2023 (%)
Buy the Full Report for More Insights into Investment Preferences in the Mass Affluent Banking Market in Western Europe
Download a Free Sample Report
Mass Affluent Banking in Western Europe – Competitive Landscape
A few of the retail banks dominating mass affluent banks in the Western European countries are BNP Paribas, Belfius, Argenta, KBC Bank, and ING. BNP Paribas accounted for the highest market share in 2023. KBC has struggled to retain mass affluent clients, with negative implications for plans to grow its private banking segment. AXA’s current account and mortgage market shares for the mass affluent are almost double those for the total market.
Retail Banks in Western Europe Catering to the Mass Affluent, 2023 (%)
Buy the Full Report for More Western Europe Mass Affluent Banks Insights
Download a Free Sample Report
Segments Covered in the Report
Western Europe Mass Affluent Banking Countries Outlook (2023)
- Belgium
- France
- Germany
- Italy
- Luxembourg
- Netherlands
- Spain
Western Europe Mass Affluent Banking Channels Outlook (2023)
- Mobile App
- Online Banking
- Instant Messaging
- Bank Branch
- Chatbot
- Video Banking
- Call Centre
Western Europe Mass Affluent Banking Investment Preferences Outlook (2023)
- Equity
- Bonds
- ETFs
- Mutual Funds
Key Highlights
- The future growth rate of the mass affluent in this region will slow significantly compared to its historical growth.
- Mass affluent customers still prefer to use traditional banks the most for any banking product.
- Customers in this region are not sold on the idea of paying for a premium current account. Banks need to do more to make themselves more attractive to customers to cross-sell more products and services.
Reasons to Buy
- Understand how consumer preferences vary between different customer demographics.
- Access the latest consumer survey data on channel behavior, provider preferences, and product holdings.
- Identify the areas for improvement that matter to particular consumers.
- Benefit from the provision of actionable steps that can help your business target specific customer profiles.
Belfius
Argenta
KBC Bank
ING
AXA
bpost
Crelan
CBC Banque
Keytrade
Crédit Agricole
Caisse d’Epargne
La Banque Postale
Crédit Mutuel - CIC
BNP Paribas
Société Générale
Banque Populaire
LCL (Credit Lyonnais)
Boursorama
Sparkassen
Volksbanken Raiffeisenbanken
Commerzbank
Postbank
Deutsche Bank
Deutsche Kreditbank (DKB)
Comdirect
Targobank
Advanzia Bank
Baden-Württembergische Bank
Intesa Sanpaolo
UniCredit
Poste Italiane
Banca Mediolanum
BNL
Banca di Credito Cooperativo
Fineco
Banca Sella
Banca Popolare di Milano
Rabobank
ABN Amro
ASN Bank
SNS Bank
DHB Bank
bunq
Knab
BBVA
La Caixa
Caixabank
Santander
Banco Sabadell
Bankinter
Openbank
Abanca
Unicaja
BB Kutxa
Kutxabank
Table of Contents
Frequently asked questions
-
Which country was the most popular in the mass affluent banking in the Western European markets in 2023?
Germany was the biggest market for capturing mass affluent clients in 2023.
-
Which was the leading investment channel among the mass affluent customers in Western Europe in 2023?
In 2023, traditional banks was the leading investment channel for mass affluent banking customers in Western European.
-
Which are the leading retail banks catering to the mass affluent individuals in Western Europe?
A few of the retail banks catering to mass affluent customers in Western Europe are BNP Paribas, Belfius, Argenta, KBC Bank, and ING.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.