Category: Banking & Financial Services
Banking & Financial Services market research reports by Euromonitor International
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Consumer Credit in Morocco
Consumer Credit in Morocco Morocco’s latest unemployment data exhibits a rise to almost 13% in the first three months of 2023, from just over 12% over the same period last year, as the farming sector shrunk due to the worst drought in decades, directly affecting the sector’s demand for workers. Unem ... Read More
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Credit Cards in Greece
Credit Cards in Greece In 2023, credit cards are experiencing growth in terms of the number of cards, volume, and value of transactions. After a prolonged period of recovery from the Greek financial crisis of the previous decade, credit cards have found a stable position in the Greek market, albeit ... Read More
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Charge Cards in Hong Kong, China
Charge Cards in Hong Kong, China There has been a decline in the number of high net worth individuals (HNWI) in Hong Kong since 2020. In response, charge card operators such as American Express and Diners Club are determined to customise their latest offers to better cater for this shrinking client ... Read More
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Consumer Credit in Canada
Consumer Credit in Canada In 2023 the Bank of Canada has tweaked its prime interest rate several times. The impact on the housing market has been a rise in household mortgage debt. Consumers with variable rate mortgages or on the cusp of renewals have been struck especially hard. Euromonitor Interna ... Read More
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Consumer Credit in Turkey
Consumer Credit in Turkey The year 2023 witnessed a decline in the number of consumers obtaining personal consumer credit. As Inflation and the cost of living remained high, consumers relied on cash withdrawals from credit cards when they needed small sums of money. This shift in consumer behaviour ... Read More
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Debit Cards in Norway
Debit Cards in Norway Debit cards are the most popular types of card payment in Norway and face little threat from credit cards or other types of financial card payments in 2023. Around one-half of all payment cards in Norway are debit cards, generating more than 80% of transactions. During the pand ... Read More
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Pre-Paid Cards in Colombia
Pre-Paid Cards in Colombia In 2023, the number of pre-paid cards in circulation is expected to grow steadily. Closed loop pre-paid cards, particularly transportation cards, will remain the most important. This growth is driven by increased mobility as hybrid work schemes lose traction. Transportatio ... Read More
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Credit Cards in Taiwan
Credit Cards in Taiwan At the close of 2022, Taiwan witnessed a significant reshuffle in its credit card issuance landscape. The top five credit card issuers, ranked by the number of active cards, were Cathay United Bank with 5.77 million, CITIC Bank with 5.34 million, E Sun Bank with 4.69 million, ... Read More
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Charge Cards in Israel
Charge Cards in Israel The increasing prevalence of charge cards issued by non-bank entities in 2023 is significantly impacting the usage of charge cards. The convenience and security offered by digital wallets pose a threat to credit card usage. The rapid growth of e-wallets in Israel, with approxi ... Read More
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Consumer Credit in Italy
Consumer Credit in Italy Consumer credit registered positive, albeit modest growth in terms of gross lending and outstanding balance values in Italy in 2023, as ongoing economic uncertainty led many consumers to retain a conservative approach towards borrowing. While the rate of inflation fell durin ... Read More
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Credit Cards in Japan
Credit Cards in Japan Credit card is the leading cashless payment method in Japan, and is still responsible for the predominant share of cashless payment transaction volumes and value. Other digital payment instruments are also gaining popularity, but credit cards remain the most widely used. Commer ... Read More
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Charge Cards in Hungary
Charge Cards in Hungary Only commercial charge cards are available in Hungary in 2023, with personal charge cards no longer available. Moreover, commercial charge cards are only offered to top corporate executives and senior managers and there are no indications that this situation will change. The ... Read More
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Debit Cards in Egypt
Debit Cards in Egypt The Central Bank of Egypt reported a noteworthy 15% overall growth in the total number of electronic cards in Egypt by the end of 2022. Specifically, the number of debit cards in the market witnessed a substantial 12% growth. The government's ongoing financial inclusion efforts ... Read More
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Credit Cards in Hungary
Credit Cards in Hungary The loan repayment moratorium for vulnerable borrowers, including credit card owners, to cope with the negative economic consequences of the COVID-19 pandemic was extended to the end of 2022, but was not renewed in 2023. Meanwhile, high interest rates, competitive products/se ... Read More
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Credit Cards in Chile
Credit Cards in Chile Credit cards in Chile are undergoing a fascinating transformation, driven by the increasing digitalisation of consumer finance. A surge in digital transactions, including via credit and debit card operations, has led to a significant shift towards cashless payments. Additionall ... Read More
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Debit Cards in Denmark
Debit Cards in Denmark Denmark is mostly a cashless country, and debit cards continue to be the most popular payment method, both in terms of number of transactions and total transaction value, The number of cards is only expected to increase slightly in 2023, as the market is saturated, and already ... Read More
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Debit Cards in Morocco
Debit Cards in Morocco Driven by population growth and continued urbanisation, the number of debit cards in Morocco continues to soar. Traditionally, local consumers show a strong preference for using debit cards thanks to the safety and reliability of paying with existing money rather than borrowed ... Read More
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Consumer Lending in Argentina
Consumer Lending in Argentina The credit market in Argentina remains highly restricted, primarily constrained to personal loans. The funds that banks receive from their clients are predominantly funnelled into a financial instrument called Leliq, which offers a lucrative high-interest rate. This mon ... Read More
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Consumer Lending in Poland
Consumer Lending in Poland In 2023, Poland’s inflation rate remains in double-digits and many households are experiencing a deterioration in living conditions. The uncertain macroeconomic situation, high interest rates and the depreciation of real incomes has caused a slowdown in the consumer credit ... Read More
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Financial Cards and Payments in France
Financial Cards and Payments in France Financial cards continues its progress in 2023, however, with mixed results. Global inflation continues to create an uncertain economic climate and an increasing price-sensitivity around sales of fast-moving consumer goods (FMCGs), leading to widespread discoun ... Read More
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Financial Cards and Payments in Japan
Financial Cards and Payments in Japan Japan’s transition to a cashless society has been accelerating in 2023. The Ministry of Economy, Trade and Industry (METI) developed the “Cashless Vision” in 2018, aiming to increase the cashless payment ratio to 40% by 2025. Due to COVID-19, cashless payment tr ... Read More
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Financial Cards and Payments in Mexico
Financial Cards and Payments in Mexico Financial cards and payments in Mexico in 2023 has been marked by growth, and adaptation to consumer needs. Post-pandemic economic recovery has been playing a pivotal role in boosting card usage and transaction volumes and values. This recovery, coupled with in ... Read More
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Financial Cards and Payments in Morocco
Financial Cards and Payments in Morocco Morocco’s commitment and investments in financial inclusion are paying off, with the nation having recorded double-digit growth in account ownership since 2017; this makes Morocco one of only four countries worldwide to achieve this. According to the latest Wo ... Read More
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Consumer Credit in Sweden
Consumer Credit in Sweden Consumer credit suffered during the first year of the COVID-19 pandemic, when economic uncertainty saw the postponement of larger purchases. While gross lending surpassed pre-pandemic levels in 2022, consumers remained cautious, amid much uncertainty about the future. Auto ... Read More
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Consumer Credit in the Philippines
Consumer Credit in the Philippines Towards the end of the review period consumer loans has shown continuous current value growth. In 2023, current value growth is being driven by credit cards and various personal lending options, particularly salary-based general purpose loans. Meanwhile, the perfor ... Read More
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