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Lu - vi, 9:00 - 18:00 h (EST)
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Lu - vi, 9:00 - 17:00 h (SGT)
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Lu - vi, 9:00am-6:00pm (EST)
Key regions: United States, China, Japan, Brazil, United Kingdom
Amidst the bustling financial landscape of Singapore, the Banking market is experiencing significant developments driven by various factors.
Customer preferences: Customers in Singapore are increasingly leaning towards digital banking solutions, opting for convenience and efficiency in their financial transactions. The demand for seamless online banking services and mobile applications has been on the rise, leading banks to invest heavily in digital infrastructure to cater to these preferences.
Trends in the market: One prominent trend in the Singaporean Banking market is the growing popularity of neobanks and fintech companies. These agile and tech-savvy players are disrupting the traditional banking sector by offering innovative products and services tailored to the digital-savvy consumer base in the country. As a result, traditional banks are facing increased competition and are being pushed to enhance their digital offerings to stay relevant in the market.
Local special circumstances: Singapore's status as a global financial hub plays a significant role in shaping the Banking market in the country. With a stable political environment, strong regulatory framework, and a tech-savvy population, Singapore provides an ideal landscape for banks to innovate and grow. The presence of multinational corporations and high-net-worth individuals further drives the demand for sophisticated banking services, creating a unique market environment.
Underlying macroeconomic factors: The economic stability and growth prospects of Singapore contribute to the development of its Banking market. As a regional financial center, Singapore benefits from a robust economy, low levels of corruption, and a well-developed infrastructure. These factors attract foreign investments and multinational banks to establish their presence in the country, fostering competition and driving innovation in the Banking sector. Additionally, Singapore's strategic location in the Asia-Pacific region positions it as a gateway for financial activities, further fueling the growth of its Banking market.
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.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)