Market Insights Financial Banking Traditional Banks

Traditional Retail Banking - Angola

Angola

In Angola, the Traditional Retail Banking market market is anticipated to witness a significant increase in Net Interest Income, reaching a projected value of US$1.05bn in 2024.
Looking ahead, it is expected that this segment will experience a steady annual growth rate of 0.00% (CAGR 2024-2029), resulting in a market volume of US$1.05bn by 2029.
When compared globally, it is worth noting that China is expected to generate the highest Net Interest Income, with a staggering value of US$2,426.0bn in 2024.
Angola's traditional retail banking market is experiencing a shift towards digitalization and innovative solutions to meet the needs of its tech-savvy population.

Key regions: France, Brazil, Germany, United Kingdom, United States

Definition:
Traditional retail banking refers to the financial services sector that provides a range of financial products and services to individual consumers through store-based branches and other traditional channels. These services include personal loans, savings and checking accounts, credit cards, mortgages, and other financial products designed specifically for individual consumers.
Traditional retail 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.
Despite facing increased competition and changing customer preferences, traditional retail banks continue to play a vital role in the financial landscape. They are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services.
Overall, traditional retail banking provides a wide range of financial services to individual consumers through established, trusted channels and continues to be an important part of the financial landscape.

Structure:
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., Bank of America Corp., and BNP Paribas.

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Analyst Opinion

The Traditional Retail Banking market in Angola is experiencing notable shifts and developments in response to changing consumer preferences and local special circumstances.

Customer preferences: Customers in Angola are increasingly seeking convenience and efficiency in their banking experience. This has led to a growing demand for digital banking services, such as online and mobile banking, as customers look for ways to easily access and manage their finances. Additionally, there is a rising interest in personalized services and products that cater to individual financial needs and goals.

Trends in the market: One significant trend in the Traditional Retail Banking market in Angola is the expansion of digital banking offerings by traditional banks. As more customers embrace digital channels for their banking needs, traditional banks are investing in technology to provide seamless and secure online and mobile banking experiences. This trend is driven by the need to stay competitive in a rapidly evolving market and meet the changing demands of tech-savvy customers.

Local special circumstances: Angola's banking sector is influenced by unique local circumstances, such as regulatory changes and economic conditions. The government's efforts to modernize the financial sector and improve financial inclusion have impacted the strategies and operations of traditional retail banks in the country. Additionally, the country's economic landscape, including fluctuations in oil prices, plays a role in shaping the banking market and consumer behavior.

Underlying macroeconomic factors: The Traditional Retail Banking market in Angola is also influenced by underlying macroeconomic factors, such as inflation, exchange rates, and GDP growth. Economic stability and growth are essential for the banking sector to thrive, as they impact consumer confidence, spending power, and investment opportunities. Changes in these macroeconomic indicators can affect interest rates, loan demand, and overall banking activities in Angola.

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.