Contact
![Contact Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Mon - Fri, 9am - 6pm (EST)
![Contact Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Mon - Fri, 9am - 5pm (SGT)
![Contact Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Mon - Fri, 10:00am - 6:00pm (JST)
![Contact Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Mon - Fri, 9:30am - 5pm (GMT)
![Contact Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Mon - Fri, 9am - 6pm (EST)
The Traditional Commercial Banking market in Peru has been experiencing notable developments in recent years.
Customer preferences: Peruvian customers are increasingly seeking personalized banking services that cater to their specific needs and preferences. They are looking for convenient digital banking solutions that offer ease of access and seamless transactions. Additionally, there is a growing demand for sustainable banking practices among customers who prioritize environmental and social responsibility.
Trends in the market: One of the key trends in the Traditional Commercial Banking market in Peru is the rapid adoption of digital banking services. With the increasing penetration of smartphones and internet connectivity across the country, more customers are turning to online and mobile banking for their financial needs. This trend is driving traditional banks to invest in digital infrastructure and innovative technologies to stay competitive in the market.
Local special circumstances: Peru's banking sector is unique due to its diverse customer base spread across urban and rural areas. While urban customers are more inclined towards digital banking services, rural customers still rely heavily on traditional brick-and-mortar branches for their banking needs. This dual requirement poses a challenge for banks to maintain a balance between digital offerings and physical presence to cater to all customer segments effectively.
Underlying macroeconomic factors: The economic stability and steady GDP growth in Peru have contributed to the expansion of the Traditional Commercial Banking market. As more Peruvians enter the formal banking system, there is a growing opportunity for banks to offer a wide range of financial products and services. Additionally, favorable government regulations and initiatives to promote financial inclusion have created a conducive environment for the growth of the banking sector in the country.
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)