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Banking Agencies for End-Consumers: Must-Read Reports & Analysis

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Topics under Retail Banking

Global Retail Banking Market Report

Retail banks are divisions of banks that provide banking services to individuals rather than businesses or other banks. They offer traditional services offered in every-day banking, such as current (checking) accounts and other deposit or special interest accounts, with the facility to transfer money between accounts. They also provide services for the payment of regular bills through standing orders or direct debits and offer loans based on various types and levels of security.

The Industrial & Commercial Bank of China Limited, JPMorgan Chase & Co., BNP Paribas SA and HSBC Holdings are some of the prominent players in retail banking across the globe.

Key Segments

Retail banks can be segmented according to ownership into state-owned and privately-owned banks and by geographic presence.

Banks where the major stake is held by the government include the National Bank of Australia, the State Bank of India and all of the major Chinese banks. Privately owned banks are the major competitors in the US and European retail banking market; Wells Fargo, Bank of America and Barclays are some of the big players operating in this segment.

Most banks are focused mainly on their domestic market, but some have global operations; these include Hong Kong and Shanghai Banking Corporation (HSBC), Citibank, ING Group and Standard & Chartered Bank. This is particularly important to larger companies with an international presence which need global retail banking support.

Regional Market Shares

The key geographies for retail banking include China, Europe & the USA.

China has some of the largest banks in the world. The Industrial and Commercial Bank of China, the China Construction Bank, the Agricultural Bank of China and the Bank of China together have most of the Chinese market. The Chinese government exerts strong influence in the banking sector, which continues to develop commercially and globally.

Europe is another major region for the business banking industry, where Germany, the UK, France and Italy are some of the largest markets. 80% of European businesses meet their capital requirements through bank financed debt, unlike in the USA where 85% of business capital is funded through equity. The largest retail banking groups operating in Europe include Barclays, ING Group, HSBC and Deutsche Bank. Development in this region is now moving to expand the Eastern Europe banking sector, particularly in countries like Poland, where a thriving economy  and rising credit demand create a favorable destination for banking sector investment.

The US banking industry is concentrated: the top five players. JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and US Bancorp together hold around $7 trillion in assets of the total $15 trillion held by US banks.

Market Outlook

Banks are investing in data analytics in order to reap the value of the data they possess about customers’ banking, purchasing and investing habits. Anti-money laundering analytics, for example, are helping banks to stay ahead of fraudsters. Marketing analytics can help banks segment, target, acquire and retain individual customers.

The rapid growth of digital channels is a significant recent trend in the banking sector. Growing access to the internet and the proliferation of mobile phones is fuelling the trend. Banks are now pursuing campaigns to include more digital marketing. According to the European Financial Marketing Association and Wipro’s Global Retail Digital Marketing analysis, about 90% of banks expect online/mobile to be the primary channel for transactions in the near future. To capitalize on this growing trend banks such as Canadian Imperial Bank of Commerce (CIBC) have started to offer its business customers an edeposit facility for cheques, allowing them to scan, upload and deposit multiple cheques in a single transaction, using a desktop cheque scanner and CIBC’s online deposit application.

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Parent industry: Banking
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