Published on : Dec 03, 2019
UK retail banking sector is undergoing transformation in various elements. Several factors including evolving regulatory requirements, high demand of personalized services and integration of technological advancements in traditional business models have compelled retail banks to introduce innovations in products and services.
Loan balances outstanding in US was estimated to grow at 3.3% CAGR in the forecast period 2014-2018. It amounted to 1,626.6bn by the end of 2018. The major components responsible for this growth include home loans and residential mortgage balances. Both collectively were held responsible for 86.7% of the balances in total, in the year 2018. Personal loans accounted for 8.8% of the balances and credit cards for 4.5%.
An intelligence report titled, “UK Retail Banking: Opportunities and Risks to 2023” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.
Brexit brought economic uncertainty
Brexit brings in certain uncertainty that adversely effects the economy. Total loan balances outstanding is anticipated to exhibit growth at 2.7% CAGR during the forecast period 2019-2023. The Lending landscape in UK is dominated by only a few banks including Lloyds Banking Group, RBS Group and Barclays. Many other competitors such as digital banks, non-bank lenders and digital lending platforms have surfaced in competition to retail banks. The new entrants are gaining significance in the market on the backdrop of advantages such as loans with low interest and easy loan approvals.
The UK savings market grew at 3.9% CAGR in the period 2014-2018 and amounted to 1,433.7bn by the end of 2018. The Economic uncertainty propagated by Brexit surged savings market with rates more than that of loan balances. UK personal loan market flourished between the period 2014-2018 and recorded rapid growth at 7.4% CAGR owing to the greater interest rates along with attractive deals offered by market competitors. The residential mortgage market in UK recorded moderate growth rate of 2.9% CAGR which was majorly influenced by the first time buyers.
UK retail banking: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the UK retail banking. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the UK retail banking. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on UK retail banking.
An insightful and deep-dive assessment of the competitive assessment of the UK retail banking pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the UK retail banking. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
UK retail banking: Research Methodology
Primary sources and secondary sources propel intelligence report on UK retail banking that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
Request a Sample with TOC in a PDF format: https://www.marketresearchhub.com/enquiry.php?type=S&repid=2561178
Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision-makers across industry verticals to clearly visualize their operating environment and take strategic steps.
MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients
For Enquiries, Call :
+1-800-998-4852US Toll Free
Email : email@example.com