Hong Kong’s retail financial services landscape is very concentrated, with the top four banks accounting for the bulk of the market. HSBC in particular holds a dominant position in all four product sectors we examined. Consumers have traditional attitudes and tend to favor banks with established reputations and branch networks. Most products are still purchased in-branch, and this poses challenges for newer, digital-only providers.
Browse the Full Hong Kong Retail Banking Market – Global Scenario, Industry Outlook, Share, and Industry analysis, Size, Trends and Forecast Report at – http://www.radiantinsights.com/research/retail-banking-country-snapshot-hong-kong
Radiant Insights “Retail Banking Country Snapshot: Hong Kong 2016” reviews the retail banking sector in Hong Kong, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from our Retail Banking Insight Survey.
The report offers insight into:
– How consumers in Hong Kong take out and use their financial products, and how this has changed in recent years.
– Which providers dominate the current account, savings, mortgage, and loan markets, and what factors persuaded their customers to choose them.
– The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.
Browse All Reports of This Category @ http://www.radiantinsights.com/catalog/financial-services
Key Findings
– HSBC commands a 37% share of the current account market, making it the leading provider by a significant margin. Consumers tend to be cautious in their choice of provider, with reputation and branch location being the two most important drivers. The branch is still the only significant channel for current account acquisition, with 70% of consumers using this as their main channel in 2013-16.
– When deciding where to place their savings, consumers focus first and foremost upon branch location and reputation. Personal treats and protection against unexpected events are by far the two biggest reasons for saving, each cited by well over half of savers. Overall, 22% of savers claim to be very or quite willing to entrust their savings with a peer-to-peer lender, although only 4% state that they are very willing to do so.
– Of mortgages taken out in 2013-16, around one in four were arranged online, a far higher proportion than previously. Overall, around two thirds of mortgages are arranged via direct channels, and just under a fifth through an independent financial advisor (IFA), although IFAs account for a greater proportion of mortgages arranged more recently.
Request a Free Sample Copy of this Report @ http://www.radiantinsights.com/research/retail-banking-country-snapshot-hong-kong/request-sample
Reasons To Buy
– Future proofs your strategy with market sizing, forecasts, and analysis of key developments currently affecting Hong Kong’s retail banking sector.
– Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
– Learn about the impact new entrants and distribution channels will have on the market.
Read more related reports by Radiant Insights:
• Norway Debit Cards Market
Debit Cards Usage Analytics by Card Scheme (VISA-BANK AXEPT): Norway; is an exhaustive research report outlaying Debit Cards usage in Norway. The report provides year on year statistics on Average Transaction Value, Frequency of Use, Number of Transactions, and Turnover per card, Cards Issued and more by Card Scheme / Association covering VISA and BANK AXEPT CARD.
• Norway Credit Cards Market
The report “Credit Cards Usage Analytics by Card Scheme (AMEX-VISA-MASTER): Norway” report is the result of Verdict Financial’s extensive market research covering the cards and payments industry in Norway. It provides detailed credit cards usage statistics by Card Scheme / Association covering American Express (AMEX), VISA and MASTER CARD on parameters like Average Transactions value and Number of Transactions, Frequency of Use, Turnover per card, Card Issue and Value of Transactions.
Media Contact
Company Name: Radiant Insights, Inc.
Contact Person: Michelle Thoras, Corporate Sales Specialist – USA
Email: sales@radiantinsights.com
Phone: (415) 349-0054, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Website: http://www.radiantinsights.com/research/retail-banking-country-snapshot-hong-kong