Banking - Qatar

Qatar

In 2024, the projected Net Interest Income in the Banking market in Qatar is expected to reach US$10.83bn.
This market segment is dominated by Traditional Banks, with a projected market volume of US$10.83bn in the same year.
Looking ahead, the Net Interest Income is anticipated to exhibit an annual growth rate (CAGR 2024-2028) of 7.14%, resulting in a market volume of US$14.27bn by 2028.
In terms of global comparison, in China is forecasted to generate the highest Net Interest Income, amounting to US$5,659.0bn in 2024.
Qatar's banking market is witnessing a growing trend towards digital banking services, as customers increasingly opt for convenient and secure online transactions.

Key regions: United States, China, Japan, Brazil, United Kingdom

Definition:

The Banking market refers to the financial services sector providing financial products and services to individuals and businesses. Retail banking focuses on offering financial services to individual consumers, such as personal loans, savings and checking accounts, credit cards, and mortgages. Commercial banking, on the other hand, provides financial services to small and large businesses, including loans, lines of credit, and other financial products designed specifically for businesses.

Structure:

The market consists of two segments:
- The Traditional Banking market refers to the financial services sector that provides a range of financial products and services to individuals and businesses through store-based branches and other traditional channels.
- The Digital Banking market refers to the emerging market for digital-only banks that offer financial services through online and mobile platforms.

The market data comprises Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.

Additional information:

The Banking market is highly competitive and characterized by the presence of large global players as well as regional and local banks. Banks are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services. Additionally, changes in regulations and the growing trend toward digitalization are shaping the Retail & Commercial banking market, creating opportunities for new entrants, and forcing existing players to adapt.
Key players in this market are companies such as the Industrial and Commercial Bank of China Ltd., JPMorgan Chase & Co., and HSBC Holdings.

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Analyst Opinion

The Banking market in Qatar has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Qatar are increasingly leaning towards digital banking solutions, driven by convenience and the growing adoption of technology in the country. Mobile banking apps and online banking services are becoming more popular among customers, leading to a shift away from traditional brick-and-mortar branches.

Trends in the market: One notable trend in the Qatari Banking market is the increasing focus on Islamic banking products and services. As an Islamic finance hub, Qatar has seen a rise in demand for Sharia-compliant banking solutions, attracting both local customers and foreign investors looking to participate in the Islamic finance sector.

Local special circumstances: Qatar's strategic positioning as a financial hub in the Middle East has attracted a significant amount of foreign investment, contributing to the growth of the Banking market in the country. Additionally, the government's initiatives to diversify the economy and promote financial services have created a favorable environment for banks to expand their operations in Qatar.

Underlying macroeconomic factors: The stable economic growth, coupled with the country's high GDP per capita, has provided a solid foundation for the Banking market to thrive in Qatar. Furthermore, the government's investments in infrastructure projects and efforts to enhance the business environment have boosted confidence among investors and supported the overall growth of the banking sector.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data provided by the IMF, World Bank and the annual reports of the top 1000 Banks by asset size. Next we use relevant key market indicators and data from country-specific associations such as GDP, deposit interest rates, lending interest rates or bank account penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast financial services for digital as well as traditional products and services.

Additional Notes:

The market is updated twice per year in case market dynamics change.