Report on Retail Banking Market Insights Norway

Report on Retail Banking Market Insights Norway

Bharat Book Bureau provides the report, on “ Report on Retail Banking Market Insights Norway " Norway has a developed, well diversified, and stable financial system. The market for financial services is concentrated, with a handful of large banks controlling a significant market share.

https://www.bharatbook.com/financial-service-market-research-reports-749920/retail-banking-norway.html

20th Feb 2016 Mumbai, India: Bharatbook.com announces a report on “ Report on Retail Banking Market Insights Norway ". Norway is a review of the retail banking sector in Norway, with a particular focus on the current account, savings, mortgage, and personal loan markets.

Summary

Norway has a developed, well diversified, and stable financial system. The market for financial services is concentrated, with a handful of large banks controlling a significant market share. Product ownership rates are high for mortgages and current and savings accounts. Consumers are generally conservative in their choice of provider, with a bias towards providers they have an existing relationship with. The market should open up to new entrants in order to encourage greater competition within the sector.

Key Findings

• The banking sector in Norway is concentrated, with the top three providers accounting for 59% of main current accounts.

• Norwegian consumers tend to choose providers on the basis of reputational factors and an existing relationship.

• 11% consumers in Norway have switched their accounts in the last 12 months, which is the highest in the region. However, it is still below the global average.

• Norwegian savers are cautious, with around two-thirds saving to protect themselves against unforeseen events and over a third saving for financial investment. A desire for value for money is among the top three consumer characteristics.

• The mortgage market in Norway will grow rapidly over the next five years (2015-19). The high rate...