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Key regions: France, Brazil, Germany, United Kingdom, United States
Amidst a growing economy and increasing digitalization, the Traditional Retail Banking market in Iran is experiencing significant transformations and developments.
Customer preferences: Customers in Iran are increasingly leaning towards digital banking solutions, driven by convenience, accessibility, and the growing tech-savvy population. However, traditional banking services still hold value for many customers who prefer in-person interactions and personalized services.
Trends in the market: One prominent trend in the Traditional Retail Banking market in Iran is the expansion of digital banking services offered by traditional banks to meet the evolving needs of customers. This trend is fueled by the rising adoption of smartphones and the internet, making online banking a preferred choice for many consumers. Additionally, banks are focusing on enhancing their digital platforms to provide a seamless and secure banking experience.
Local special circumstances: Iran's banking sector operates under unique circumstances due to international sanctions, which have limited foreign investment and access to global banking systems. As a result, traditional banks in Iran have had to innovate and develop domestic solutions to cater to the needs of the population. This has led to the rise of localized banking services tailored to the Iranian market.
Underlying macroeconomic factors: The Traditional Retail Banking market in Iran is also influenced by macroeconomic factors such as inflation, interest rates, and government policies. Economic stability and regulatory changes play a crucial role in shaping the banking landscape and consumer behavior. As the Iranian economy continues to evolve, traditional banks will need to adapt their strategies to remain competitive and meet the changing demands of customers.
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)