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Key regions: Germany, United Kingdom, France, Japan, China
Traditional Banks market in Southern Africa has been experiencing significant shifts and developments in recent years.
Customer preferences: Customers in Southern Africa are increasingly demanding more convenient and efficient banking services. This has led to a rise in digital banking solutions and online banking platforms as customers seek easier access to their accounts and transactions. Additionally, there is a growing preference for personalized services and tailored financial products to meet the diverse needs of the market.
Trends in the market: In South Africa, one of the largest markets in the region, traditional banks are facing increased competition from digital-only banks and fintech companies. These new entrants are offering innovative solutions and disrupting the market with lower fees and more customer-centric approaches. As a result, traditional banks are being forced to adapt and enhance their digital offerings to remain competitive.
Local special circumstances: In countries like Zimbabwe and Zambia, political and economic instability have had a significant impact on the banking sector. Traditional banks in these countries have had to navigate challenges such as currency fluctuations, inflation, and regulatory changes. This has created a more volatile operating environment for banks in the region, requiring them to be agile and adaptable to survive.
Underlying macroeconomic factors: The overall economic growth in Southern Africa has been relatively slow in recent years, impacting the banking sector. Low GDP growth rates and high unemployment levels have constrained the expansion opportunities for traditional banks. Additionally, factors such as regulatory changes, cybersecurity threats, and changing consumer behaviors are shaping the future of the banking industry in the region.
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)