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Key regions: France, Brazil, Germany, United Kingdom, United States
The Traditional Retail Banking market in Mauritius is witnessing a shift in customer preferences and market trends, driven by local special circumstances and underlying macroeconomic factors.
Customer preferences: Customers in Mauritius are increasingly gravitating towards digital banking solutions, seeking convenience and efficiency in their banking transactions. This shift is influenced by global trends towards online and mobile banking, as customers look for ways to manage their finances seamlessly. Moreover, there is a growing demand for personalized services and tailored financial products to meet the diverse needs of customers in the market.
Trends in the market: In Mauritius, traditional retail banks are adapting to the changing landscape by investing in digital technologies and enhancing their online presence. This trend is in line with the global push towards digital transformation in the banking sector, as institutions strive to improve customer experience and streamline operations. Furthermore, there is a growing emphasis on financial inclusion and reaching underserved populations through innovative banking solutions, reflecting a broader trend towards promoting financial literacy and access to banking services.
Local special circumstances: Mauritius' unique position as a financial hub in the region contributes to the development of the Traditional Retail Banking market. The country's stable political environment, sound regulatory framework, and strong emphasis on investor protection make it an attractive destination for financial institutions looking to establish a presence in the region. Additionally, Mauritius' diverse population and growing middle class present opportunities for banks to offer a wide range of financial products and services to cater to varying customer needs.
Underlying macroeconomic factors: The growth of the Traditional Retail Banking market in Mauritius is also influenced by macroeconomic factors such as GDP growth, inflation rates, and interest rates. A stable economic outlook and favorable business environment support the expansion of banking services in the country, driving competition and innovation in the market. Moreover, government initiatives to promote financial inclusion and digital literacy play a crucial role in shaping the future of the banking sector in Mauritius.
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)