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Key regions: United States, China, Japan, Brazil, United Kingdom
Over the past few years, the Banking market in Sri Lanka has witnessed significant growth and transformation.
Customer preferences: Customers in Sri Lanka have shown a growing preference for digital banking services, leading to an increased adoption of online and mobile banking platforms. This shift can be attributed to the convenience and accessibility offered by digital banking, allowing customers to conduct transactions and access financial services easily from anywhere at any time.
Trends in the market: One notable trend in the Sri Lankan Banking market is the increasing focus on financial inclusion. Banks in the country are expanding their reach to underserved areas and populations, offering tailored products and services to meet the specific needs of these customers. This trend is driven by a push from regulators to promote financial literacy and inclusion across the country.
Local special circumstances: Sri Lanka's Banking market is also influenced by the country's unique demographic and economic factors. With a young and tech-savvy population, there is a high demand for innovative banking solutions that cater to the digital lifestyle of customers. Additionally, the growing middle class in Sri Lanka is driving the demand for a wider range of banking products and services, including loans, insurance, and investment options.
Underlying macroeconomic factors: The development of the Banking market in Sri Lanka is further supported by favorable macroeconomic conditions, including steady economic growth, low inflation rates, and government initiatives to boost the financial sector. These factors create a conducive environment for banks to expand their operations, introduce new products, and invest in technology to enhance customer experience.
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)