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The Traditional Commercial Banking market in North Macedonia has been experiencing notable developments in recent years.
Customer preferences: Customers in North Macedonia are increasingly seeking out traditional commercial banking services due to the stability and reliability they offer. With a preference for personalized services and face-to-face interactions, many customers still value the brick-and-mortar presence of traditional banks. Additionally, the trust associated with established banking institutions continues to attract customers to traditional banking services.
Trends in the market: One key trend in the Traditional Commercial Banking market in North Macedonia is the shift towards digitalization. While customers still value in-person interactions, there is a growing demand for online banking services and digital solutions. Traditional banks are investing in digital platforms to enhance customer experience and stay competitive in the market. Another trend is the focus on sustainable banking practices, with an increasing number of traditional banks in North Macedonia incorporating environmental and social considerations into their business strategies.
Local special circumstances: North Macedonia's banking sector is characterized by a relatively small market size and a high level of competition among banks. This dynamic has led traditional banks to differentiate themselves through innovative products and services. Additionally, the country's regulatory environment plays a significant role in shaping the operations of traditional banks. Compliance with regulatory requirements and adapting to changes in the regulatory landscape are key considerations for traditional banks in North Macedonia.
Underlying macroeconomic factors: The economic stability and growth in North Macedonia have positively impacted the Traditional Commercial Banking market. As the economy continues to expand, there is an increasing demand for banking services to support business activities and personal financial needs. Moreover, favorable interest rates and government initiatives to promote financial inclusion have contributed to the growth of the traditional banking sector in North Macedonia.
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)