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Key regions: France, Brazil, Germany, United Kingdom, United States
The Traditional Retail Banking market in Ghana has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Ghana are increasingly seeking convenient and accessible banking services, leading to a rise in digital banking options and mobile banking applications. The demand for personalized services and efficient customer support is also driving the market towards more customer-centric approaches.
Trends in the market: One notable trend in the Traditional Retail Banking market in Ghana is the expansion of branch networks to reach unbanked populations in rural areas. Additionally, there is a growing emphasis on financial inclusion and literacy programs to educate and empower more Ghanaians to participate in the formal banking sector.
Local special circumstances: Ghana's Traditional Retail Banking market is unique due to the presence of a diverse range of financial institutions, including both local banks and international players. This competitive landscape has spurred innovation and product differentiation, benefiting customers with a wider array of choices and services.
Underlying macroeconomic factors: The stability of Ghana's economy and the government's commitment to financial sector reforms have created a favorable environment for the growth of the Traditional Retail Banking market. Additionally, the increasing adoption of digital technologies and the country's young population are driving forces behind the market's evolution and modernization.
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)