Traditional Banks - Qatar

Qatar

In 2024, it is projected that the net interest income in the Traditional Banks market market in Qatar will reach US$10.83bn.
The market is dominated by Traditional Commercial Banking, which is expected to have a market volume of US$10.26bn in the same year.
Looking ahead, the net interest income is anticipated to demonstrate an annual growth rate (CAGR 2024-2028) of 7.14%, resulting in a market volume of US$14.27bn by 2028.
When compared globally, it is noteworthy that in China will generate the highest net interest income, amounting to US$4,690.0bn in 2024.
Despite facing competition from digital banking services, traditional banks in Qatar continue to thrive due to their strong reputation and emphasis on personalized customer service.

Key regions: Singapore, United Kingdom, Germany, Brazil, United States

Definition:

The Traditional Retail and Commercial Banks 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. 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.
The traditional banking market is highly competitive and characterized by the presence of large global players as well as regional and local banks. These banks have a long history of serving customers and have established relationships and a deep understanding of the financial needs of their communities. They offer a wide range of services and are able to provide personalized advice and support to their customers.
In this market, banks are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services. However, they also face challenges, such as increased competition and changing customer preferences, which are driving the need for continuous improvement and adaptation.
Overall, the traditional retail and commercial banking market provides a wide range of financial services to both individuals and businesses through established, trusted channels and continues to play a vital role in the financial landscape.

Structure:

The market consists of two segments:
- The Traditional Retail Banks market refers to financial services provided to individual consumers (e.g., personal loans, savings and checking accounts, credit cards, mortgages).
- The Traditional Commercial Banks market refers to financial services provided to businesses, including small and large enterprises (loans, lines of credit, other financial products specifically designed for businesses).

The market data comprises Net Interest Income, the value of Deposits, the value of Loans, 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 and commercial banking market, creating opportunities for new entrants and forcing existing players to adapt.

Key players in this market are companies such as Industrial and Commercial Bank of China Ltd., JPMorgan Chase & Co., and HSBC Holdings.

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Analyst Opinion

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

Customer preferences: Customers in Qatar have shown a strong preference for traditional banking services due to a culture of trust and reliability associated with established banks. Many customers value the personalized service and face-to-face interactions offered by traditional banks, which have been a key driver for the growth of this market in the country.

Trends in the market: One noticeable trend in the Traditional Banks market in Qatar is the increasing adoption of digital banking services by traditional banks. As customers in Qatar become more tech-savvy and look for convenience in their banking experience, traditional banks have been investing in digital platforms to meet these evolving needs. This trend has not only enhanced customer experience but also improved operational efficiency for banks in the country.

Local special circumstances: In Qatar, the presence of a large expatriate population has also influenced the development of the Traditional Banks market. Expatriates often prefer traditional banks that offer services tailored to their specific needs, such as international money transfers and multi-currency accounts. As a result, traditional banks in Qatar have been focusing on providing specialized services to cater to this segment of the population.

Underlying macroeconomic factors: The stable economic growth and increasing wealth in Qatar have contributed to the expansion of the Traditional Banks market in the country. As disposable incomes rise and the overall economy prospers, there is a growing demand for a wide range of banking services offered by traditional banks. Additionally, Qatar's strategic position as a financial hub in the region has attracted international banks to establish a presence in the country, further fueling competition and innovation in the Traditional Banks market.

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.