Market Research Report
United Kingdom (UK) Retail Banking 2020 - Review, Forecasts, and Future Opportunities
|Published by||GlobalData||Product code||951636|
|Published||Content info||40 Pages
Delivery time: 1-2 business days
|United Kingdom (UK) Retail Banking 2020 - Review, Forecasts, and Future Opportunities|
|Published: July 23, 2020||Content info: 40 Pages||
Growth in the UK retail banking sector has been consistent over the past decade following the global financial crisis, although COVID-19 will significantly alter trajectories and forecasts in 2020 and 2021. A V-shaped recovery is expected and could potentially see growth post-COVID-19 follow similar trends and rates to those pre-COVID-19. Following a decade of austerity, a return to this policy to reduce the deficit and debt incurred during the COVID-19 period is unlikely due to the political consequences for the government. Plans to level up and rebalance the economy are expected to continue on track, while tax cuts and the relaxation of regulation and red tape are expected to boost growth and kick-start the economy.
This report explores trends in the retail banking sector and offers insight into consumer preferences and behaviors. It highlights some of the most important data points available on the performance of the sector comparable to other markets, as well as the performance and perception of firms within the industry. New trends and innovations are also noted, as are the implications of COVID-19 for the sector.