Category: Banking & Financial Services
Banking & Financial Services market research reports by Euromonitor International
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Credit Cards in Hong Kong, China
Credit Cards in Hong Kong, China Since the reopening of borders in the fourth quarter of 2022, there has been a surge in enthusiasm among Hong Kong locals to travel abroad after enduring three years of the pandemic. Residents are now showing a strong and sustained interest in reallocating their spen ... Read More
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Consumer Lending in Sweden
Consumer Lending in Sweden Gross lending in Sweden registered positive, yet slower growth in 2022, as the uncertain economic environment, exacerbated by the Russian invasion of Ukraine, led to a decline in consumer confidence. In August 2022, the annual inflation rate soared to almost 10%, the highe ... Read More
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Financial Cards and Payments in Hong Kong, China
Financial Cards and Payments in Hong Kong, China Total card transactions in Hong Kong, along with electronic direct/ACH transactions and mobile payments, are recording double-digit growth rates in 2023 as consumption recovers from the pandemic. This is mainly being driven by overseas consumption due ... Read More
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Consumer Credit in Singapore
Consumer Credit in Singapore Following the pandemic, card lending, contributing to over 60% of consumer credit gross lending in Singapore, has witnessed significant growth, largely propelled by the enduring trend of revenge travel. The resumption of travel and tourism activities in numerous countrie ... Read More
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Pre-Paid Cards in Hong Kong, China
Pre-Paid Cards in Hong Kong, China Octopus has established itself as the most widely used and popular open loop pre-paid card in Hong Kong, offering a myriad of convenient features and services. Recognising the growing interest among local residents to explore the mainland during weekends or holiday ... Read More
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Consumer Lending in Morocco
Consumer Lending in Morocco While Morocco saw dynamic demand for consumer lending immediately post-pandemic as retailers and foodservice outlets reopened their doors to consumers, from September 2022 the market has been impacted by soaring prices impacting purchasing power across households. This tr ... Read More
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Consumer Lending in Peru
Consumer Lending in Peru Consumer lending has sustained notable growth in 2023, albeit at a more tempered pace compared to the robust expansions witnessed in the preceding years. This growth encompasses both the outstanding balance and gross lending, surpassing pre-pandemic levels experienced in 202 ... Read More
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Consumer Lending in Nigeria
Consumer Lending in Nigeria Gross consumer lending is expected to register growth in 2023, but with inflation continuing to be very high, it will not go far in terms of consumer spending. A new government has implemented some difficult decisions in order to stabilise the economy, including ending a ... 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 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 Israel
Consumer Lending in Israel In 2023, the Bank of Israel implemented a significant benchmark interest rate hike. This resulted in a sharp increase in mortgage payments, impacting individuals who hold mortgages and loans. The aggressive interest rate hikes have escalated mortgage and loan holding costs ... Read More
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Consumer Lending in the United Kingdom
Consumer Lending in the United Kingdom In comparison with Eurozone countries, the UK economy has continued to be impacted by high inflation and the soaring cost of living in 2023. While rising electricity and gas prices drove inflation in 2022, they have been gradually decreasing in 2023, and what i ... Read More
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Consumer Lending in the Philippines
Consumer Lending in the Philippines At the beginning of 2023, the industry anticipated a surge in consumer lending demand as Filipinos resumed spending as the country emerged out of the Coronavirus (COVID-19) pandemic. A substantial share of consumers also resorted to loans to manage their expenses. ... Read More
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Consumer Lending in Taiwan
Consumer Lending in Taiwan In 2023, the total credit amount in Taiwan surged over the previous year. This figure has doubled since pre-pandemic levels at the end of 2019. Taiwan's financial landscape boasts a multitude of institutions holding significant liquid funds. Taiwanese consumers are increas ... Read More
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Store Cards in Morocco
Store Cards in Morocco The popularity of store cards was already in decline during the review period. Among the main reasons for this is that many local consumers struggle to see the advantages that these cards offer or, alternatively, they understand the advantages but do not believe that these are ... Read More
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Store Cards in Turkey
Store Cards in Turkey There were no store cards with “pay later” options available in Turkey at the end of the review period. All cards issued by retailers are closed loop pre-paid cards that enable payment in specific retail outlets. Over the forecast period, prospects for store cards remain weak a ... Read More
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Consumer Lending in China
Consumer Lending in China Demand for consumer lending is set to see a moderate rebound in 2023, as the pandemic has eased, and consumer spending has returned, especially on services and in other discretionary categories. However, growth in consumer lending in China is expected to be slow, following ... Read More
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Consumer Lending in Brazil
Consumer Lending in Brazil Brazilians are well-acquainted with dividing payments into instalments, a practice prevalent in both traditional retail credit (known as ""crediário"") and credit card payments. The compounding effects of inflation, a challenging job market, and reduced consumer purchasing ... Read More
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Charge Cards in Singapore
Charge Cards in Singapore Charge card transactions have demonstrated a consistent upward trajectory in terms of transaction volume and retail value in 2023, coinciding with the resurgence of travel activities in Southeast Asia as pandemic-related restrictions have been removed. The revival of intern ... Read More
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Financial Cards and Payments in Singapore
Financial Cards and Payments in Singapore The financial cards and payments landscape in Singapore has experienced notable transformations as the nation progresses towards its goal of becoming a cashless society. This evolution has been primarily driven by the rise of digitalisation, empowering payme ... Read More
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Credit Cards in Singapore
Credit Cards in Singapore Credit card transactions in Singapore have sustained considerable growth in both total retail value and transaction volume, owing to the resurgence of the travel industry in Asia Pacific. This revival of travel has become the key growth driver for recent credit card offerin ... Read More
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Consumer Lending in Japan
Consumer Lending in Japan Consumer lending in Japan is growing in 2023 in line with demand for greater convenience and easy access to lending services, mainly due to more services being accessed online. New emerging players, such as LINE Pocket Money by LINE Credit Corporation and Merpay Smart Money ... Read More
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Consumer Lending in Australia
Consumer Lending in Australia The major talking point of 2023 from a consumer lending point of view has been the increase in interest rates over the year as a result of the RBA (Reserve Bank of Australia) attempting to address high inflation rates. Due to higher interest rates, outstanding balance h ... Read More
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Pre-Paid Cards in Singapore
Pre-Paid Cards in Singapore EZ-link, the leading open-looped pre-paid card in Singapore, has significantly benefited from the resumption of regional travel. Not only has EZ-link gained traction among tourists visiting Singapore, who find it a convenient payment solution for various modes of public t ... Read More
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Debit Cards in Singapore
Debit Cards in Singapore The consistent growth of debit cards in Singapore can be attributed to the ongoing enhancement of benefits provided to debit cardholders. In the past, debit card offerings and associated benefits were generally outpaced by those offered by credit cards. However, in an attemp ... Read More
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