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Key regions: Germany, United Kingdom, France, Japan, China
Traditional Banks in Western Asia are experiencing significant growth and development driven by various factors in the region.
Customer preferences: Customers in Western Asia are showing a growing inclination towards traditional banking services despite the rise of digital banking options. This preference can be attributed to a cultural trust in established banking institutions and a desire for personalized services that cater to their specific financial needs.
Trends in the market: In countries like Saudi Arabia and the United Arab Emirates, traditional banks are expanding their services to include wealth management and investment advisory to meet the demands of high-net-worth individuals in the region. Additionally, there is a trend towards Islamic banking products in countries with predominantly Muslim populations, such as Iran and Kuwait, where Sharia-compliant banking principles are gaining traction.
Local special circumstances: The geopolitical landscape in Western Asia plays a significant role in shaping the traditional banking market. Countries like Qatar and Bahrain, which serve as financial hubs in the region, attract international investments and contribute to the growth of their traditional banking sectors. Moreover, the oil-rich economies of countries like Kuwait and Oman provide ample liquidity for traditional banks to expand their lending activities.
Underlying macroeconomic factors: The stability of Western Asia's traditional banking market is closely tied to global oil prices, as many countries in the region rely heavily on oil revenues to drive economic growth. Fluctuations in oil prices can impact the liquidity and profitability of traditional banks, influencing their lending practices and overall performance. Additionally, government regulations and policies regarding foreign investment and capital flows play a crucial role in shaping the competitive landscape of the traditional banking sector in Western Asia.
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)