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Key regions: France, Brazil, Germany, United Kingdom, United States
The Traditional Retail Banking market in Croatia is witnessing an interesting shift in customer preferences and market trends, driven by unique local circumstances and underlying macroeconomic factors.
Customer preferences: Customers in Croatia are increasingly demanding more personalized and convenient banking services, leading traditional retail banks to invest in digitalization and innovation. The younger generation, in particular, is gravitating towards online and mobile banking solutions, pushing banks to enhance their digital offerings to stay competitive in the market.
Trends in the market: One notable trend in the Croatian market is the growing popularity of digital-only banks and fintech companies. These new players are challenging traditional banks by offering innovative products and services tailored to the digital-savvy customer base. As a result, traditional retail banks are facing pressure to adapt their business models and improve their digital capabilities to meet changing customer expectations.
Local special circumstances: Croatia's banking sector is characterized by a high level of competition among traditional banks, as well as increasing regulatory requirements. This competitive landscape, coupled with the country's relatively small market size, is pushing banks to explore new ways to differentiate themselves and attract customers. Additionally, the tourism industry plays a significant role in the Croatian economy, influencing the banking sector's focus on providing specialized services for tourists and foreign visitors.
Underlying macroeconomic factors: The Croatian economy has been experiencing steady growth in recent years, supported by factors such as increasing consumer confidence and rising disposable incomes. This economic stability has translated into higher demand for banking products and services, driving traditional retail banks to expand their offerings and improve customer experience. Additionally, ongoing efforts to align with EU banking regulations are shaping the market landscape and influencing banks' strategic decisions in Croatia.
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)