Hong Kong Retail Banking Market Outlook 2021: Big Things are Happening

A new research document is added in HTF MI database of 33 pages, titled as 'Hong Kong Retail Banking 2020 - Review, Forecasts, and Future Opportunities' with detailed analysis, Competitive landscape, forecast and strategies. Latest analysis highlights high growth emerging players and leaders by market share that are currently attracting exceptional attention. The identification of hot and emerging players is completed by profiling 50+ Industry players; some of the profiled players are HSBC,Citibank,Hang Seng Bank,Bank of China,Standard Chartered,Dah Sing,Bank of East Asia. The Market has witnessed continuous growth in the past few years and is projected to see some stability post Q2,2020 and may grow further during forecast year 2021-2026

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Summary
Hong Kong Retail Banking 2020 - Review, Forecasts, and Future Opportunities

Summary

Growth in the Hong Kong retail banking market has been strong over the past decade. COVID-19 has affected growth in 2020 but is unlikely to significantly alter trajectories and forecasts in 2021 given that the recovery is already underway. The news of a COVID-19 vaccine will allow a complete economic reopening with few restrictions in place and serve as a pseudo stimulus to the global economy and international trade.

This report explores trends in the Hong Kong retail banking sector and provides insight into consumer preferences and behavior. It highlights some of the most important data points available on the performance of the sector compared to other markets as well as the performance and perception of firms within the industry. New trends and innovations are also noted, as are the implications of COVID-19 for the sector.

Scope

- Standard Chartered are commonly viewed as one of the most digitally sophisticated banks in the world, who have been a pioneer in digital transformation and financial technology. This background and mission have culminated in the low levels of dissatisfaction on their mobile channels that rank significantly lower regarding dissatisfaction than any competitors' products. Dissatisfaction with online channels offered by Standard Chartered are higher than expected, and greater than those of HSBC and Bank of China.
- Opinions of digital-only banks regarding service, rates, and level of functionality have all improved since 2018. Perceptions of digital-only banks’ online security have remained the same. This trend follows the same pattern seen in the US, UK, and Chinese markets, though the rate of change in preference has been slower than in China.
- Net promoter scores (NPS) for incumbent banks in Hong Kong show that customers are more likely to be detractors of their primary transaction account provider, likely due to the impact of digital banks entering the market and consumers warming to them.

Reasons to Buy

- Identify factors affecting growth prospects across the deposit, credit card, personal loan, and mortgage markets.
- Track competitor gains and losses in market share.
- Assess consumer perceptions of competitors’ performances.
- Measure channel preferences over the last four years.
- Highlight mobile satisfaction by competitor.
- Specify areas of mobile UX that are most valued by Hong Kong customers.
- Measure the change in attitudes toward digital-only banks.
- Get insights on target demographics for non-bank providers across different products.
- Discover the importance placed on the various attributes of financial service providers analyzed by age/income.

Companies Mentioned in the Report

HSBC
Citibank
Hang Seng Bank
Bank of China
Standard Chartered
Dah Sing
Bank of East Asia

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There are 15 Chapters to display the Hong Kong Retail Banking 2020 - market.
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Hong Kong Retail Banking 2020 - market, Applications [], Market Segment by Types ;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Hong Kong Retail Banking 2020 - Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show Five forces (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation], comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, to identify major decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Hong Kong Retail Banking 2020 - Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels
Chapter 13 and 14, about vendor landscape (classification and Market Ranking)
Chapter 15, deals with Hong Kong Retail Banking 2020 - Market sales channel, distributors, Research Findings and Conclusion, appendix and data source.

....Continued

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