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Mon - Fri, 9am - 6pm (EST)
Key regions: France, Brazil, Germany, United Kingdom, United States
The Traditional Retail Banking market in Georgia has been experiencing notable developments and trends in recent years.
Customer preferences: Customers in Georgia are increasingly seeking more personalized and convenient banking services, leading to a growing demand for digital banking solutions. The convenience of online and mobile banking platforms is becoming a priority for many customers, driving the shift towards digital channels for various banking transactions.
Trends in the market: One significant trend in the Traditional Retail Banking market in Georgia is the expansion of digital banking services offered by traditional banks. This trend is driven by the need to stay competitive in the market and cater to the changing preferences of tech-savvy customers. Banks are investing in technology to enhance their digital capabilities and provide a seamless banking experience across different channels.
Local special circumstances: Georgia's unique geographical location as a bridge between Europe and Asia has positioned it as a regional financial hub, attracting foreign investments and fostering economic growth. This strategic advantage has contributed to the development of the banking sector in the country, with traditional banks playing a vital role in supporting the financial needs of businesses and individuals.
Underlying macroeconomic factors: The stable economic growth and political stability in Georgia have created a favorable environment for the development of the Traditional Retail Banking market. The government's efforts to promote financial inclusion and regulatory reforms have also played a crucial role in shaping the banking sector and driving innovation in the market. Additionally, the increasing integration of Georgia into the global economy has opened up new opportunities for traditional banks to expand their services and reach a broader customer base.
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)