Retail Banking in Germany – (COVID-19) Impact Snapshot
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with key markets across the world losing 20-50% of their value for the year to date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and many experts predicting the potential onset of recessionary environments.
A similar trend can be seen in Germany. The country’s GDP has been revised downward for 2020 due to the economic disruption caused by Coronavirus. Germany is among the worst affected countries in the world, with total confirmed cases of 195,418 as of July 1. However, with new cases falling, the government is slowly lifting lockdown restrictions. This move is expected to help revive the economy, benefiting the country’s banking industry.
This report focuses on the impact of the Coronavirus outbreak on the economy and the retail banking industry in Germany. Based on our proprietary datasets, the snap shot provides a detailed comparison between pre-COVID-19 forecasts and revised forecasts of total mortgage, consumer, credit card loan balances as well as deposit balances in terms of value and growth rates. It also offers information on measures taken by the government to combat Coronavirus.
– As the economic recession incited by the COVID-19 outbreak has impacted the economy, German banks could see a near-term downside to profitability. Net interest margins remained low and could be compressed further by rate changes. Fee income will fall, driven by decreased retail spending, while non-performing loan ratios will increase – particularly across SMEs.
– The German government has announced various tax measures, such as the deferral of tax payments and a reduction in prepayments. It has also suspended insolvency filing obligations until the end of September 2020 to protect companies, as well as postponing consumer loan repayments for three months.
– These measures will support the banking sector in the short term, but there will be pressure on lenders for many months following.
Reasons to Buy
– Make strategic decisions using top-level revised forecast data on the German retail lending and deposit industry.
– Understand the key market trends, challenges, and opportunities in the German retail lending and deposit industry.
– Receive a comprehensive insight into the total consumer loans in Germany, including mortgages, personal and credit card loans as well as retail deposits balances.
Table of Contents
Table of Contents
Total Consumer Loans
Credit Card Loans
Other Consumer Loans
COVID-19 Impact: Job Analysis
Get in touch to find out about our multi-purchase discounts
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?
“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.