Banking - Worldwide

  • Worldwide
  • In 2024, it is projected that the Net Interest Income in the Banking market worldwide will reach a staggering amount of US$5.8tn.
  • The market is predominantly dominated by Traditional Banks, which are expected to have a projected market volume of US$5.0tn in the same year.
  • Moving forward, the Net Interest Income is anticipated to display an annual growth rate (CAGR 2024-2028) of 3.90%.
  • This will result in a significant increase, leading to a market volume of US$6.8tn by the year 2028.
  • When considering a global perspective, it is noteworthy that in the United States will generate the highest Net Interest Income.
  • In 2024, in the United States is expected to generate a substantial amount of US$877.4bn.
  • Despite global economic challenges, the banking sector in countries worldwide continues to innovate and adapt to digital transformation to meet the evolving needs of customers.

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

Region comparison

Analyst Opinion

The global banking market is a highly competitive and dynamic industry that is constantly evolving to meet the changing needs of consumers and businesses.

Traditional banks have a long history in the industry and are well-established players. They offer a wide range of financial products and services, including savings accounts, checking accounts, loans, mortgages, and credit cards. These banks typically have a physical presence, with branches located in various cities and countries. They also have extensive networks of ATMs and other banking facilities.

On the other hand, neobanks are relatively new players in the industry that operate entirely online. They offer similar financial products and services to traditional banks but with a focus on convenience and flexibility. They use digital technologies to provide a seamless and frictionless banking experience, often with no fees or low fees. Neobanks also leverage data analytics and AI to offer their customers personalized financial advice and recommendations.

In recent years, neobanks have seen significant growth, especially among younger consumers who prefer digital channels for their banking needs. However, traditional banks still hold the lion's share of the market, and many of them have launched their own digital banking platforms to compete with neobanks.

One of the biggest challenges facing the retail and commercial banking industry is regulatory compliance. Banks must comply with a myriad of regulations, including anti-money laundering (AML) and know-your-customer (KYC) regulations, which can be costly and time-consuming. Moreover, data privacy and cybersecurity concerns have become increasingly important, especially in light of recent high-profile data breaches.

Another challenge is the changing consumer behavior and preferences. With the rise of digital technologies, consumers are becoming more accustomed to personalized and convenient experiences. Banks must adapt to these changing expectations by providing more personalized products and services and leveraging data analytics and AI to offer more relevant recommendations.

In addition, the COVID-19 pandemic has had a significant impact on the industry, with many consumers and businesses turning to digital channels for their banking needs. This has accelerated the shift towards digital banking and forced traditional banks to adapt to changing customer demands.

Additionally, the peak of inflation in 2022 affected the market. For more details about the impacts of inflation on the financial industry read more here.


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.


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.


  • Net Interest Income
  • Key Players
  • Analyst Opinion
  • Bank Accounts
  • Deposits
  • Loans
  • Credit Card Interest Income
  • ATMs & Bank Branches
  • Methodology
  • Key Market Indicators
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