Market Insights Financial Banking Traditional Banks

Traditional Retail Banking - Mauritius

Mauritius

In Mauritius, the Traditional Retail Banking market market is expected to witness a significant increase in Net Interest Income.
According to projections, the Net Interest Income is projected to reach US$0.60bn in 2024.
Furthermore, it is anticipated that the Net Interest Income will display a compound annual growth rate (CAGR 2024-2029) of 3.42%.
This growth rate will result in a market volume of US$0.71bn by 2029.
When compared globally, it is worth noting that China is expected to generate the highest amount of Net Interest Income.
In 2024, China is projected to generate a staggering US$2,426.0bn in Net Interest Income.
Mauritius' traditional retail banking market is experiencing a shift towards digital banking services, driven by increasing internet penetration and tech-savvy customers.

Key regions: France, Brazil, Germany, United Kingdom, United States

Definition:
Traditional retail banking refers to the financial services sector that provides a range of financial products and services to individual consumers through store-based branches and other traditional channels. These services include personal loans, savings and checking accounts, credit cards, mortgages, and other financial products designed specifically for individual consumers.
Traditional retail banks have a long history of serving customers and have established relationships and a deep understanding of the financial needs of their communities. They offer a wide range of services and are able to provide personalized advice and support to their customers.
Despite facing increased competition and changing customer preferences, traditional retail banks continue to play a vital role in the financial landscape. They are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services.
Overall, traditional retail banking provides a wide range of financial services to individual consumers through established, trusted channels and continues to be an important part of the financial landscape.

Structure:
The market data comprises Net Interest Income, the value of Deposits, the value of Loans, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.

Additional information:
The Banking market is highly competitive and characterized by the presence of large global players as well as regional and local banks. Banks are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services. Additionally, changes in regulations and the growing trend toward digitalization are shaping the retail and commercial banking market, creating opportunities for new entrants, and forcing existing players to adapt.

Key players in this market are companies such as Industrial and Commercial Bank of China Ltd., Bank of America Corp., and BNP Paribas.

Use the info button next to the boxes for more information on the data displayed.

Market

Region

Region comparison

Currency

Analyst Opinion

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.

Methodology

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.