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UK Personal Loan Market dominates UK Retail Banking
Brexit brings in certain uncertainty that adversely effects the economy. Total loan balances outstanding is anticipated to exhibit growth at 2.7% CAGR during the forecast period 2019-2023.

BriefingWire.com, 12/04/2019 - UK retail banking sector is undergoing transformation in various elements. Several factors including evolving regulatory requirements, high demand of personalized services and integration of technological advancements in traditional business models have compelled retail banks to introduce innovations in products and services. An intelligence report titled, “UK Retail Banking: Opportunities and Risks to 2023” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.

Request Sample Report@ www.marketresearchhub.com/enquiry.php?type=S&repid=2561178

Loan balances outstanding in US was estimated to grow at 3.3% CAGR in the forecast period 2014-2018. It amounted to 1,626.6bn by the end of 2018. The major components responsible for this growth include home loans and residential mortgage balances. Both collectively were held responsible for 86.7% of the balances in total, in the year 2018. Personal loans accounted for 8.8% of the balances and credit cards for 4.5%.

Brexit brought economic uncertainty

Brexit brings in certain uncertainty that adversely effects the economy. Total loan balances outstanding is anticipated to exhibit growth at 2.7% CAGR during the forecast period 2019-2023. The Lending landscape in UK is dominated by only a few banks including Lloyds Banking Group, RBS Group and Barclays. Many other competitors such as digital banks, non-bank lenders and digital lending platforms have surfaced in competition to retail banks. The new entrants are gaining significance in the market on the backdrop of advantages such as loans with low interest and easy loan approvals.

Browse Complete Research Report with TOC@ www.marketresearchhub.com/report/uk-retail-banking-opportunities-and-risks-to-2023-report.html

The UK savings market grew at 3.9% CAGR in the period 2014-2018 and amounted to 1,433.7bn by the end of 2018. The Economic uncertainty propagated by Brexit surged savings market with rates more than that of loan balances. UK personal loan market flourished between the period 2014-2018 and recorded rapid growth at 7.4% CAGR owing to the greater interest rates along with attractive deals offered by market competitors. The residential mortgage market in UK recorded moderate growth rate of 2.9% CAGR which was majorly influenced by the first time buyers.

UK retail banking: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the UK retail banking. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the UK retail banking. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on UK retail banking.

An insightful and deep-dive assessment of the competitive assessment of the UK retail banking pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the UK retail banking. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

 
 
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