The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
As at the end of 2017, the Thai banking sector consisted of a total of 30 commercial banks comprising both domestic banks and branches of foreign lenders. Thai banks dominate the sector, and the five largest banks collectively account for the ...View more details
The insurance sector in Romania remained underdeveloped in 2017. Insurance penetration, measured by the ratio of gross written premium (GWP) to GDP, was only 1.1% for the whole sector in 2017, versus 1% in 2016. The sector’s GWP came to RON 9 ...View more details
The large size of the Russian population offers strong growth opportunities to the insurance companies but the sector remains underdeveloped mainly because of the low income levels in the country and the limited awareness of the benefits of insurance ...View more details
Turkey’s insurance sector witnessed robust growth throughout 2013-2017, with premiums rising at a compound annual growth rate (CAGR) of 18.6% over the five-year period. Expansion was supported by increasing employment, consumption and ...View more details
The Malaysian banking sector comprised 54 banks as at the end of 2017. While foreign banks been present in Malaysia from the inception of the modern banking industry in the country, domestic banks have come to dominate the country’s ...View more details
With insurance companies going on with their product restructure during Q3 2018, China's insurance industry retained its upward trend. The quarter saw insurance premiums increase solidly by 13.3% y/y to RMB 829.9bn. In January-September, premiums ...View more details
The Russian banking sector is slowly recovering from the serious blow it suffered in 2015-2016, when the economy swung into a recession triggered by low oil prices and Western sanctions in response to Russia’s annexation of the Crimean ...View more details
The year 2017 was stellar for the banking sector of Argentina. In the midst of economic recovery, bank loans and deposits surged by 48.8% and 26.9% y/y, respectively. Alongside revived household consumption, lending activity was boosted by an 11% ...View more details
After the recession of 2015-2016, economic activity started to grow in 2017, although at a tepid pace. The central bank initiated a monetary policy easing cycle in October 2016 and took rates from 13.75% to 6.5% as of October 2018. The economic ...View more details
In 2017, written premiums in Colombia rose by 5.5% in real terms and 8% y/y in nominal terms, despite a backdrop of slow economic activity. In comparison, globally the value of written premiums grew by just 1.5% in real terms in 2017, according to a ...View more details