Retail Banking Market Size - By Types (Large Bank, Community Bank, Online Bank, Regional Rural Bank, Post Office), By Service (Current Account, Saving Account, Debit Card, Credit Card, Loan) & Forecast, 2023

Description

List of Tables

Global Retail Banking Market will witness over 5% CAGR between 2023 and 2032, propelled by surging deals and sales, enticing retail bankers seeking mutual benefits. This trend mirrors a symbiotic relationship among banking enterprises, where in seller and buyer both have their benefits from the deals. For instance, in November 2023, Citi, the New York-based organization, initiated the divestiture of 14 retail banking branches globally, aligning its focus towards higher-margin sectors like wealth management. Recently, the sale of its Indonesia consumer banking arm to United Overseas as Bank Indonesia (UOB), headquartered in Singapore, marked Citi's ninth divestment in line with its strategic overhaul. This transaction represents the conclusive consumer business divestment in Asia, encompassing retail banking, credit card, unsecured lending divisions, and staff transfers, as stated by the US corporation.

The evolving landscape fosters a reciprocal dynamic, fostering a win-win scenario and further supporting the retail banking market outlook. As bankers harness innovative products and services, customers are lured by tailored offerings, augmenting transactions. Such heightened activity signifies a pivotal shift in the industry, where the exchange of value between retail bankers and customers heralds a new era of mutually advantageous engagements.

The overall Retail Banking Market is classified based on type, service, and region.

Community bank segment will undergo significant development from 2023 to 2032. These smaller financial institutions serve as pillars in local economies, catering to the unique needs of communities. Community banks foster personalized customer relationships, offering tailored financial solutions and a sense of belonging. Their emphasis on local engagement and flexible services resonates strongly, attracting customers seeking a more intimate banking experience. This elevated retail banking market demand reflects a shift towards community-centric financial services.

Debit card segment will register a noteworthy CAGR from 2023 to 2032. Debit cards offer unparalleled convenience, enabling seamless transactions while curbing debt. Their widespread acceptance and ease of use make them indispensable in everyday financial activities, resonating with a populace inclined towards prudent spending. As consumers prioritize transparency and control over finances, the escalating retail banking market share from debit cards underscores their pivotal role in reshaping payment norms.

Asia Pacific retail banking market will showcase a commendable CAGR from 2023 to 2032. With a burgeoning middle class and digital adoption, there's a surge in demand for accessible, tech-driven banking solutions. Financial inclusivity drives innovation, propelling a need for personalized services and mobile banking.

As the region embraces fintech advancements and disruptive models, the escalating demand reflects a pivotal shift in banking paradigms, amplifying opportunities for tailored, customer-centric financial experiences in the Asia-Pacific market. For instance, in November 2023, the State Bank of India (SBI), the nation's largest lender, and Bank of Baroda, another significant state-run bank, are intensifying efforts to expand their customer base within the CBDC pilot project's retail segment. They aim to elevate their user count from the current 400,000 and 250,000 respectively, to reach the ambitious 1 million target set by the RBI.

Product Code: 7132

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Retail banking market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Type trends
2.5 Service trends

Chapter 3 Retail Banking Market Industry Insights

3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
- 3.6.1 Partnership/Collaboration
- 3.6.2 Merger/Acquisition
- 3.6.3 Investment
- 3.6.4 Product launch & innovation
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Rising demand for digital banking services
  - 3.8.1.2 Growing adoption of artificial intelligence and blockchain in retail banking
  - 3.8.1.3 Growing focus on customer centric approach
  - 3.8.1.4 Rise in disposable income form middle class
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Regulatory compliance
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 JPMorgan Chase & Co.
- 4.3.2 Bank of America
- 4.3.3 Wells Fargo & Co.
- 4.3.4 Citigroup Inc.
- 4.3.5 TD Bank Group
- 4.3.6 HSBC Holdings plc
- 4.3.7 PNC Financial Services Group, Inc.
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Retail Banking Market Estimates & Forecast, By Type (Revenue)

5.1 Key trends, by type
5.2 Large bank
5.3 Community bank
5.4 Online bank
5.5 Regional rural bank
5.6 Post office

Chapter 6 Retail Banking Market Estimates & Forecast, By Service (Revenue)

6.1 Key trends, by service
6.2 Current account
6.3 Saving account
6.4 Debit card
6.5 Credit card
6.6 Loan
6.7 Others

Chapter 7 Retail Banking Market Estimates & Forecast, By Region (Revenue)

7.1 Key trends, by region
7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
7.3 Europe
- 7.3.1 UK
- 7.3.2 Germany
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Russia
7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Southeast Asia
- 7.4.6 ANZ
7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
7.6 MEA
- 7.6.1 UAE
- 7.6.2 Saudi Arabia
- 7.6.3 South Africa

Chapter 8 Company Profiles

8.1 Bank of America
8.2 Barclays PLC
8.3 BNP Paribas
8.4 Capital One Financial Corporation
8.5 China Construction Bank Corp.
8.6 Citigroup Inc.
8.7 HSBC Holdings plc
8.8 Industrial and Commercial Bank of China
8.9 JPMorgan Chase & Co.
8.10 PNC Financial Services Group, Inc.
8.11 TD Bank Group
8.12 The Goldman Sachs Group, Inc.
8.13 Truist Bank
8.14 U.S. Bancorp
8.15 Wells Fargo & Co.