Retail Banking-Australia: Coronavirus (COVID-19) Sector Impact

Retail Banking-Australia: Coronavirus (COVID-19) Sector Impact

Apr 2020 GlobalData Banking17 Pages Price :
$ 1495
Retail Banking - Australia: Coronavirus (COVID-19) Sector Impact

Summary

The coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy affecting millions of people globally. The contagious coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.

Fears surrounding the impact of COVID-19 have already significantly hampered the global economy, with key markets across the globe losing 20-50% of their value for the year-to-date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and many experts predicting the potential onset of recessionary environments.

A similar trend is expected in Australia, as economic growth is expected to register a dip in the first quarter of 2020 and will decelerate further if the disease continues to spread over the coming months. The decline will have an adverse impact on all sectors including retail banking.

This report focuses on the impact of the Coronavirus outbreak on the economy and the retail banking industry of Australia. Based on our proprietary datasets, it provides a detailed comparison between pre-COVID-19 forecasts and revised forecasts for total mortgages, other consumer loans, credit card loan balances, and deposit balances in terms of value and growth rates. It also offers information on measures taken by the government to combat the disease.

Scope

- Australian banks quarterly profits are expected to drop precipitously, most dramatically among the largest banks but with a more enduring squeeze on smaller authorized deposit-taking institutions, resulting in long-term consolidation in the market.
- Loan growth will also suffer, despite efforts to keep lending to businesses and households at extremely attractive rates.
- Banks could see a rise in the delinquency rate, resulting in higher non- performing assets.

Reasons to Buy

- Make strategic decisions using top-level revised forecast data on the Australian retail lending and deposits industry.
- Understand the key market trends, challenges, and opportunities in the Australian retail lending and deposits industry.
- Receive comprehensive insight into total consumer loans in Australia, including mortgages, personal loans, and credit card loans as well as retail deposits balances.
Table of Contents
COVID-19 Update
Impact Assessment
Retail Deposits
Total Consumer Loans
Mortgage Loans
Credit Card Loans
Other Consumer Loans
Appendix
Supplementary Data
Definitions
Methodology
About GlobalData
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