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The Traditional Commercial Banking market in Burkina Faso is experiencing significant growth and development, driven by various factors shaping the financial landscape in the country.
Customer preferences: Customers in Burkina Faso are increasingly seeking access to a wide range of banking services, including savings accounts, loans, and investment opportunities. The demand for convenient and efficient banking solutions is on the rise, leading traditional banks to innovate and expand their offerings to meet the evolving needs of their clientele.
Trends in the market: One of the key trends in the Traditional Commercial Banking market in Burkina Faso is the adoption of digital banking services. As technology becomes more accessible, banks are investing in online and mobile banking platforms to provide customers with convenient ways to manage their finances. This shift towards digitalization is not only improving customer experience but also increasing financial inclusion in the country.
Local special circumstances: Burkina Faso's banking sector is characterized by a relatively low level of competition, with a few major players dominating the market. This oligopolistic structure can impact the availability of banking services and the pricing of financial products. Additionally, the country's regulatory environment plays a crucial role in shaping the operations of traditional banks, influencing their strategies and growth prospects.
Underlying macroeconomic factors: The macroeconomic environment in Burkina Faso, including factors such as GDP growth, inflation rates, and government policies, significantly impacts the Traditional Commercial Banking market. Economic stability and growth can lead to increased demand for banking services, while fluctuations in the economy may pose challenges for banks in terms of credit risk and profitability. As the country continues to develop and modernize its financial sector, traditional banks will need to adapt to changing market conditions and customer preferences to remain competitive.
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)