Hong Kong (China SAR) Retail Banking Competitor Benchmarking - Financial Performance, Customer Relationships and Satisfaction

Abstract

This report looks at market performance, retention risk, and market shares across key products within Hong Kong (China SAR)'s banking space. It also ranks the market's leading banks across a range of criteria, from digital adoption and user experience to rewards and money management tools.

The majority of banks in Hong Kong (China SAR) increased their total divisional assets (TDA), net interest margins, and retail net interest incomes. HSBC is the top competitor, with the largest market share across the retail deposits, residential mortgages, personal loans, and credit card markets. It also has the most current account relationships across all age groups and affluence bands.

Scope

• 2023 was a good year for Hong Kong (China SAR) banks, with the majority improving their TDA, net interest margins, and retail net interest incomes. However, there was a decrease in fee income for the majority of banks.
• The digital banks ZA Bank, Mox Bank, and Livi Bank have the largest proportion of new customers. The traditional banks, such as HSBC and Hang Seng Bank, have a more tenured customer base and have performed better at cross-selling.
• Ease of access to a branch/call center and loyalty rewards were both the biggest drivers of NPS and the metrics that customers were least satisfied with.

Reasons to Buy

• Identify factors affecting growth prospects across the deposit, credit card, personal loan, and mortgage markets.
• Track competitor gains and losses in market share.
• Assess the financial performances of competitors.
• Unlock detailed analysis of the drivers of customer advocacy.
• Discover the actionable steps required to improve and maximize banking performance in Hong Kong (China SAR).