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Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, China, Japan, Brazil, United Kingdom
Over the past few years, the Banking market in Myanmar has been experiencing significant growth and development.
Customer preferences: Customers in Myanmar are increasingly looking for convenient and efficient banking services, leading to a rise in digital banking options. Mobile banking and online transactions are becoming more popular among the tech-savvy population, driving the demand for innovative digital solutions in the banking sector.
Trends in the market: One of the key trends in the Banking market in Myanmar is the increasing competition among both domestic and foreign banks. This competition has led to a greater focus on customer service and product offerings, with banks introducing new and tailored financial products to attract and retain customers. Additionally, the government's efforts to liberalize the banking sector have resulted in more opportunities for foreign banks to establish a presence in the country, further intensifying the competition.
Local special circumstances: Myanmar's banking sector is unique due to its relatively recent opening up to foreign investment and modern banking practices. As the country transitions towards a more market-oriented economy, local banks are adapting to meet international standards and best practices. This shift is driving innovation and technological advancements in the sector, as banks strive to compete on a global level.
Underlying macroeconomic factors: The growth of the Banking market in Myanmar can be attributed to several macroeconomic factors, including the country's strong economic performance and increasing foreign direct investment. As the economy continues to expand, there is a growing demand for banking services to support business activities and facilitate economic growth. Additionally, the government's initiatives to promote financial inclusion and improve access to banking services for the unbanked population are driving the development of the banking sector in Myanmar.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)