Hong Kong Retail Banking Market Report- Review, Forecasts, and Future Opportunities | Outlook, Survey Insights, Competitor Update

The Hong Kong Retail Banking Market research report provides wide-range coverage of the Hong Kong Retail Banking Market in the forecast period 2021-2026. Hong Kong Retail Banking Market provides historical, current, and future trends of the market that help develop robust market strategy addition. In addition, Hong Kong Retail Banking Market offers value chain analysis, key drivers and challenges, and includes upcoming opportunities in the Hong Kong Retail Banking Market that will enable business success.

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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 of this Report-
- 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 this Report-
- 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.

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Table of Contents
Executive Summary
Growth Prospects
Macroeconomic Outlook
Survey Insights
Competitor Update
Appendix

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