Banking - Chad

Chad

In Chad, the Banking market is expected to witness a significant growth in Net Interest Income, reaching US$2,660.00m in 2024.
Traditional Banks are projected to dominate the market with a substantial market volume of US$2,625.00m in the same year.
Looking ahead, the Net Interest Income is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 4.26%, resulting in a market volume of US$3,277.00m by 2029.
When compared globally, in China is expected to generate the highest Net Interest Income, amounting to US$4,332.0bn in 2024.
Chad's banking sector is experiencing a surge in digital banking services, providing greater convenience and accessibility to its population.

Key regions: United States, China, Japan, Brazil, United Kingdom

Definition:

The Banking market refers to the financial services sector providing financial products and services to individuals and businesses. Retail banking focuses on offering financial services to individual consumers, such as personal loans, savings and checking accounts, credit cards, and mortgages. Commercial banking, on the other hand, provides financial services to small and large businesses, including loans, lines of credit, and other financial products designed specifically for businesses.

Structure:

The market consists of two segments:
- The Traditional Banking market refers to the financial services sector that provides a range of financial products and services to individuals and businesses through store-based branches and other traditional channels.
- The Digital Banking market refers to the emerging market for digital-only banks that offer financial services through online and mobile platforms.

The market data comprises Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.

Additional information:

The Banking market is highly competitive and characterized by the presence of large global players as well as regional and local banks. Banks are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services. Additionally, changes in regulations and the growing trend toward digitalization are shaping the Retail & Commercial banking market, creating opportunities for new entrants, and forcing existing players to adapt.
Key players in this market are companies such as the Industrial and Commercial Bank of China Ltd., JPMorgan Chase & Co., and HSBC Holdings.

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Analyst Opinion

The Banking market in Chad is experiencing significant growth and development, driven by various factors shaping the industry in the country.

Customer preferences: Customers in Chad are increasingly seeking convenient and accessible banking services, leading to a rise in digital banking solutions. The preference for mobile banking and online transactions is driving banks to innovate and expand their digital offerings to cater to the evolving needs of customers.

Trends in the market: One notable trend in the banking market in Chad is the increasing focus on financial inclusion. Banks are expanding their reach to underserved areas and populations, aiming to provide banking services to a larger segment of the population. This trend is in line with global efforts to promote financial inclusion and reduce the unbanked population.

Local special circumstances: Chad's banking market is unique due to its reliance on traditional banking practices alongside the adoption of modern digital banking solutions. The coexistence of traditional brick-and-mortar branches with digital banking channels presents both challenges and opportunities for banks operating in the country. Additionally, the security situation in certain regions of Chad may impact the expansion and operations of banks in those areas.

Underlying macroeconomic factors: The economic stability and growth potential of Chad play a crucial role in shaping the banking market. As the economy grows, there is an increasing demand for banking services to support various sectors such as agriculture, trade, and infrastructure development. Additionally, government policies and regulations also influence the banking landscape, impacting aspects such as interest rates, lending practices, and overall market competition.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data provided by the IMF, World Bank and the annual reports of the top 1000 Banks by asset size. Next we use relevant key market indicators and data from country-specific associations such as GDP, deposit interest rates, lending interest rates or bank account penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast financial services for digital as well as traditional products and services.

Additional Notes:

The market is updated twice per year in case market dynamics change.