Report ID: SQMIG40A2003
Retail Banking Market Size, Share, Growth Analysis, By Type(Public Sector Banks, Private Sector Banks, Foreign Banks, Community Development Banks), By Service(Saving and Checking Account, Transactional Account, Personal Loan, Home Loan), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG40A2003 |
Region:
Global |
Published Date: March, 2024
Pages:
207
|
Tables:
98 |
Figures:
76
Retail Banking Market Insights
Retail Banking Market was valued at USD 6.29 billion in 2022 and is expected to rise from USD 6.94 billion in 2023 to reach a value of USD 15.17 billion by 2031, at a CAGR of more than 10.28% over the forecast period (2024–2031).
In retail banking, local branches of larger commercial banks focus on the individual consumer rather than corporates. Retail banking provides financial services Such as saving and current accounts, personal loan, mortgages, debit and credit cards, and certification of deposits for individuals and families. The retail banking market is growing at a faster rate due to individuals taking various types of loans to purchase homes, cars and others.
Retail banks are increasingly focusing on customer connectivity and enhanced monitoring capabilities which will increase the market growth during the forecast period. The key benefit of retail banking is that the banks are connected with each customer which will help to provide every financial service to the customer.
Retail Banking Market Report Snapshots
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