Market Research Report
Retail Banking in Japan - COVID-19 Impact Snapshot
|Published by||GlobalData||Product code||949843|
|Published||Content info||18 Pages
Delivery time: 1-2 business days
|Retail Banking in Japan - COVID-19 Impact Snapshot|
|Published: July 9, 2020||Content info: 18 Pages||
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with most countries across the world registering declines in economic growth for the year to date. Many economists and institutions have cut their forecasts, with many experts predicting the onset of recessionary environments.
A similar trend has been seen in Japan, as economic growth in the country dipped in the first quarter of 2020. However, Japan has been able to control the COVID-19 pandemic quite well thanks to robust government measures. As of July 9 there were 20,261 confirmed cases, with the majority of individuals having already recovered. With the government now easing lockdown restrictions, a gradual recovery in the economy is expected.
This report focuses on the impact of the Coronavirus outbreak on the economy and the retail banking industry in the Japan. Based on our proprietary datasets, the snap shot provides a detailed comparison between pre-COVID-19 forecasts and revised forecasts of total mortgage, consumer, credit card loan balances as well as deposit balances in terms of value and growth rates. It also offers information on measures taken by the government to combat Coronavirus.