Retail Banking Country Snapshot: Spain
The banking sector in Spain is concentrated, with the top three providers accounting for 51% of main current accounts. Spanish consumers tend to choose providers on the basis of branch location and reputational factors. Switching rates are low in Spain compared to the global average of 17%. Pull factors prompt consumers to switch providers. Spanish savers are cautious, with around two thirds saving to protect themselves against unforeseen events and one third saving for retirement. A desire for value for money over brand is among the top three consumer characteristics. The Spanish mortgage market will grow at a modest rate of 11% over the next few years. More than eight in 10 mortgage holders have opted for a repayment product rather than an interest-only loan, suggesting consumers prefer a safer and more straightforward approach to repaying their loan. More than a quarter of Spanish consumers have a personal loan, and consumer lending is dependent on overall economic development. The personal loans market is dominated by Banco Santander, La Caixa, and BBVA – 45% of loans are held with these three providers. More than half of the population use smartphones in Spain, implying a large potential market for mobile-delivered financial services. Continued investment in the country’s banking infrastructure is key to progress.
Scope
Verdict Financial’s “Retail Banking Country Snapshot: Spain” is a review of the retail banking sector in Spain, with a particular focus on the current account, savings, mortgage, and personal loan markets. It includes both market-level data and insight from our global consumer survey.
• Overview of Spain’s banking sector.
• Insight into consumer preferences in Spain, the reasons for taking out their financial products, and how this has evolved in years.
• Understanding around which providers dominate the current account, savings, mortgage, and loan markets and why.
• Examination of the extent to which consumers are using online and mobile channels to research, take out, and use their financial products
Reasons to Buy
Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting Spain’s retail banking sector.
Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
Learn about the impact new entrants and distribution channels will have on the market.
Key Players
Table of Contents
List of Tables
List of Figures
Get in touch to find out about our multi-purchase discounts
reportstore@globaldata.com
Tel +44 (0) 20 7947 2960
Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.
Still undecided about purchasing this report?
Testimonial
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.