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Retail Banking Country Snapshot: Spain

Retail Banking Country Snapshot: Spain

  • February 2016
  • 36 pages
  • ID: 3680156
In this report:
Consumer credit gross lending is expected to record a CAGR of -##.##% during 2015−##, dropping to €##.##tn.
Meanwhile Banco de España is undergoing a restructuring program with the European Central Bank to stabilize the banking sector and put it on a more secure footing for the future.
Demand for digital providers appears positive, with ##% of Spanish borrowers already showing a strong willingness to seek credit from digital channels when researching and applying for a loan.


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A main restructuring of the banking system is now underway in Spain (ES), with the sector opening up to additional entrants in order to encourage better competition. Investment in banking infrastructure is likely to speed up digital expansion. The industry for financial services is concentrated, with a handful of important banks controlling a meaningful market share. Product ownership rates are lower than average. Consumers generally favor providers they have an existing relationship with. The strength of customer service within branches has a strong relationship with advocacy. Banks and regulatory authorities are taking measures to strengthen the banking sector in Spain (ES).

Main highlights

- The banking sector in Spain (ES) is concentrated, with the most important three providers accounting for 51.0 percent of principal current accounts.

- Spanish consumers tend to choose providers on the basis of branch location and reputational factors.

- Switching rates are low in Spain compared to the overall average of 17%. Pull factors prompt consumers to switch providers.

- Spanish savers are cautious, with around two thirds saving to protect themselves against unforeseen events and one third saving for retirement. A desire for value for money over brand is among the best three consumer characteristics.

- The Spanish mortgage market will grow at a modest rate of 11.0 percent over the next few years. More than eight in 10 mortgage holders have opted for a repayment product rather than an interest-only loan, suggesting consumers prefer a safer and more straightforward approach to repaying their loan.

- More than a quarter of Spanish consumers have a personal loan, and consumer lending is dependent on global economic development. The personal loans market is dominated by Banco Santander, La Caixa, and BBVA - 45.0 percent of loans are held with these three providers.

- More than half of the population use smartphones in Spain (ES), implying a big plausible market for mobile-delivered financial services. Continued investment in the country's banking infrastructure is top to progress.


Verdict Financial's "Retail Banking Country Snapshot: Spain (ES)" is a review of the retail banking sector in Spain (ES), with a unique focus on the current account, savings, mortgage, and personal loan markets. It includes both market-level data and insight from our overall consumer survey.

- Overview of Spain's banking sector.

- Insight into consumer preferences in Spain (ES), the reasons for taking out their financial products, and how this has evolved in years.

- Understanding around which providers dominate the current account, savings, mortgage, and loan markets and why.

- Examination of the extent to which consumers are using online and mobile channels to research, take out, and use their financial products

Great reasons to purchase

- Future proof your strategy with market sizing, estimations, and analysis of main developments currently affecting Spain's retail banking sector.

- Target consumers with inside knowledge of their true behaviors and attitudes, with detailed study from our proprietary insight.

- Learn about the impact additional entrants and distribution channels will have on the sector.

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