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Key regions: France, Brazil, Germany, United Kingdom, United States
The Traditional Retail Banking market in Western Asia is witnessing significant developments and trends that are shaping the industry in the region.
Customer preferences: Customers in Western Asia are increasingly demanding more personalized and convenient banking services, leading traditional retail banks to enhance their digital offerings. The shift towards online and mobile banking is being driven by the tech-savvy population in the region who value efficiency and accessibility in their banking experience.
Trends in the market: In countries like Saudi Arabia and the United Arab Emirates, traditional retail banks are investing heavily in digital transformation to meet the growing demand for online services. This includes the development of mobile banking apps, digital payment solutions, and AI-powered customer service tools. Additionally, there is a trend towards creating more customer-centric banking experiences through the use of data analytics and personalized marketing strategies.
Local special circumstances: Western Asia is home to a diverse population with varying levels of financial literacy and access to banking services. In countries like Iran and Iraq, where banking penetration is relatively low, traditional retail banks are focusing on expanding their branch networks to reach underserved communities. On the other hand, in more developed markets like Qatar and Kuwait, banks are concentrating on enhancing their digital capabilities to cater to the preferences of tech-savvy consumers.
Underlying macroeconomic factors: The economic landscape in Western Asia is also influencing the development of the traditional retail banking market. Factors such as fluctuating oil prices, government regulations, and geopolitical tensions play a significant role in shaping the industry. Traditional retail banks in the region are adapting their strategies to navigate these macroeconomic challenges and capitalize on emerging opportunities for growth and expansion.
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)