Australian Retail Deposits: Forecasts and Opportunities
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The Australian retail deposit market clocked up stronger growth in 2018 following a deceleration in 2017 and is now valued at A$1.1tn. The market has posted most of its growth in the instant access categories rather than term deposits, though the latter remains the second most important store of savings for Australians after superannuation. While the net savings rate of the household sector is in long-term decline, deposits are expected to retain their draw. The only blip in its forecast growth to A$1.6tn by 2022 is a minor decline in favor of the growing pile of superannuation savings.
"Australian Retail Deposits: Forecasts and Opportunities", report analyzes the performance of the Australian retail deposit market. Drivers of recent performance and key trends in savings behavior are examined, with implications for future growth and competitive ADI positioning.
Scope
– Fee income derived from accounts is largely flat, highlighting the need for efficiency of delivery.
– Depressed APRs are preventing a shift into term deposits, with instant access accounts still attracting the bulk of consumer attention.
– The Australian Capital Territory has the highest average deposit values, while the Northern Territory has the lowest.
– Neobanks are finally making their presence felt in the Australian market, albeit mainly in younger-age cohorts.
Reasons to Buy
– Discover the factors that will affect the savings market in 2019 and beyond
– Understand which strategies will be the most effective in attracting new retail deposits
– Learn about the new savings innovations being introduced to the market
– Realize what impact the introduction of neobanks will have on Australia’s deposit market
– Reveal how consumers' decreasing savings rate interacts with a challenging economic climate
– Expose the latest consumer behavioral trends and preview how these will affect products demanded in the retail savings market.
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