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Banking and insurance
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.
In early 2020, a worldwide outbreak of coronavirus occurred, affecting the global socio-economic reality. COVID-19 posed a particular challenge to the healthcare industry. Since the pandemic started in Wuhan, Hubei province, China took a leading role ...
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In the first quarter of 2020, China food sector’s revenue dropped by 10.9% y/y to RMB 397.8bn, due to the coronavirus pandemic. The large-scale quarantine also harmed the sector’s total profit for that quarter, which slumped by 28.2% y/y ...
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Malaysia is a global Islamic finance leader. Thus, in Malaysia, takaful operators, which provide insurance contracts modified to be compliant with Shariah principles, compete directly with conventional insurers. The first modern insurance company was ...
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Although Indonesia has abundant metal resources, its metal-processing sector is underdeveloped. The country has mainly exported lower value-added minerals and imported higher value-added metal products. To squeeze more value from its metal ores and ...
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Malaysia’s transport and storage GDP recorded robust growth in 2019 despite the slower overall economic activities. Main sector performance indicators showed positive and healthy growth in 2019, except for rail passenger volume and air cargo ...
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The revenue of China’s mobile communications equipment sector fell by 4.7% y/y in the first quarter of 2020, according to MIIT. The gross value added of communications equipment manufacturing during this period slid by 1.1% y/y. Despite the ...
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Coal dominates Indonesia’s electric power sector as the country has abundant and cost-efficient coal resources. Coal power plants accounted for 51% of the total installed capacity and generated 60% of the electric power in the country in 2018. ...
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In 2019, motor vehicle output and sales in Brazil expanded for the third consecutive year, thanks to the recovery of the economy from the 2015-2016 recession, the improving labour market and declining borrowing costs. However, sector growth ...
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In the first quarter of 2020, China’s air transportation sector was severely hit by the coronavirus outbreak starting in January 2020, when the first cases were announced in China. It happened just days before the Chinese New Year holiday, when ...
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The Philippines’ pharmaceuticals and healthcare sector is experiencing accelerating growth. The country’s strong economic performance over recent years and the government’s interventions to increase healthcare access are bringing ...
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