Market Insights Financial Banking Traditional Banks

Traditional Retail Banking - Qatar

Qatar

In the country of Qatar, the Traditional Retail Banking market market is anticipated to witness a significant increase in Net Interest Income, with projections indicating a figure of US$0.57bn in 2024.
Looking ahead, it is expected that Net Interest Income will continue to grow steadily, exhibiting a Compound Annual Growth Rate (CAGR) of 10.83% between 2024 and 2028.
This growth trajectory is estimated to result in a market volume of US$0.86bn by the year 2028.
When considering the global landscape, it is worth noting that in China is expected to generate the highest Net Interest Income, reaching a substantial value of US$2,941.0bn in 2024.
In Qatar, traditional retail banking is adapting to the growing demand for digital services to cater to the tech-savvy population.

Key regions: Singapore, Germany, India, Japan, South Korea

Definition:
Traditional retail banking refers to the financial services sector that provides a range of financial products and services to individual consumers through store-based branches and other traditional channels. These services include personal loans, savings and checking accounts, credit cards, mortgages, and other financial products designed specifically for individual consumers.
Traditional retail 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.
Despite facing increased competition and changing customer preferences, traditional retail banks continue to play a vital role in the financial landscape. They are continually seeking ways to improve their offerings and remain competitive by leveraging technology and offering innovative financial products and services.
Overall, traditional retail banking provides a wide range of financial services to individual consumers through established, trusted channels and continues to be an important part of the financial landscape.

Structure:
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., Bank of America Corp., and BNP Paribas.

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Analyst Opinion

The Traditional Retail Banking market in Qatar has been experiencing significant developments in recent years.

Customer preferences: Customers in Qatar are increasingly looking for personalized and convenient banking services. They prioritize seamless digital experiences, such as online and mobile banking, as well as quick and efficient customer service. Additionally, there is a growing demand for more diverse product offerings and competitive interest rates.

Trends in the market: One notable trend in the Traditional Retail Banking market in Qatar is the shift towards digitalization. Banks are investing heavily in technology to enhance their digital capabilities and meet the evolving needs of customers. This includes the development of mobile apps, online account opening, and digital payment solutions. Moreover, there is a trend towards sustainability and socially responsible banking practices, with customers showing interest in environmentally friendly initiatives.

Local special circumstances: Qatar's unique market dynamics, including its high GDP per capita and large expatriate population, play a significant role in shaping the Traditional Retail Banking sector. The country's strong economy and stable political environment have contributed to a favorable banking landscape. Additionally, the presence of a large expatriate community has led to a diverse customer base with varying banking preferences and needs.

Underlying macroeconomic factors: The growth of the Traditional Retail Banking market in Qatar is also influenced by macroeconomic factors such as government initiatives, regulatory environment, and overall economic stability. Government policies aimed at promoting the financial sector and improving access to banking services have had a positive impact on market growth. Furthermore, the country's robust regulatory framework ensures consumer protection and fosters trust in the banking system, contributing to the sector's development.

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.