Traditional Banks - Mauritius

Mauritius

In 2024, the projected Net Interest Income in the Traditional Banks market market of Mauritius is expected to reach US$632.40m.
Traditional Retail Banking dominates this market segment, with a projected market volume of US$597.80m in the same year.
The Net Interest Income is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 3.78%, ultimately resulting in a market volume of US$761.30m by 2029.
When compared globally, China is expected to generate the highest Net Interest Income, amounting to US$3,869.0bn in 2024.
The Traditional Banking market in Mauritius is experiencing a decline in customer trust due to recent financial scandals.

Key regions: Germany, United Kingdom, France, Japan, China

Definition:

The Traditional Retail and Commercial Banks 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. 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.
The traditional banking market is highly competitive and characterized by the presence of large global players as well as regional and local banks. These banks have a long history of serving customers and have established relationships and a deep understanding of the financial needs of their communities. They offer a wide range of services and are able to provide personalized advice and support to their customers.
In this market, banks are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services. However, they also face challenges, such as increased competition and changing customer preferences, which are driving the need for continuous improvement and adaptation.
Overall, the traditional retail and commercial banking market provides a wide range of financial services to both individuals and businesses through established, trusted channels and continues to play a vital role in the financial landscape.

Structure:

The market consists of two segments:
- The Traditional Retail Banks market refers to financial services provided to individual consumers (e.g., personal loans, savings and checking accounts, credit cards, mortgages).
- The Traditional Commercial Banks market refers to financial services provided to businesses, including small and large enterprises (loans, lines of credit, other financial products specifically designed for businesses).

The market data comprises Net Interest Income, the value of Deposits, the value of Loans, 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 and commercial banking market, creating opportunities for new entrants and forcing existing players to adapt.

Key players in this market are companies such as Industrial and Commercial Bank of China Ltd., JPMorgan Chase & Co., and HSBC Holdings.

Use the info button next to the boxes for more information on the data displayed.

Market

Region

Region comparison

Currency

Analyst Opinion

The Traditional Banks market in Mauritius has been experiencing notable developments in recent years.

Customer preferences: Customers in Mauritius are increasingly seeking personalized and convenient banking services. They prefer traditional banks that offer a wide range of products and services, including savings accounts, loans, and investment opportunities. Additionally, there is a growing demand for digital banking solutions that provide easy access to financial services.

Trends in the market: One of the prominent trends in the Traditional Banks market in Mauritius is the expansion of services to cater to the diverse needs of customers. Traditional banks are diversifying their product offerings and investing in technology to enhance customer experience. Moreover, there is a trend towards sustainable banking practices, with banks in Mauritius focusing on environmental and social responsibility.

Local special circumstances: Mauritius is known for its strong regulatory environment and political stability, which have contributed to the growth of the Traditional Banks market. The country's status as a financial hub in the region has attracted both local and international banks to establish a presence in Mauritius. Additionally, the multicultural nature of the population has influenced the banking sector to offer services that cater to a diverse customer base.

Underlying macroeconomic factors: The stable economic growth and increasing disposable income in Mauritius have boosted the demand for banking services. The government's initiatives to promote financial inclusion and literacy have also played a significant role in driving the growth of the Traditional Banks market. Furthermore, the country's strategic location and strong ties to global markets have created opportunities for traditional banks to expand their operations and attract foreign investments.

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.