Bharat Book

Report on Retail Banking Market Insights Norway

Press Release   •   Feb 20, 2016 13:43 IST

20th Feb 2016 Mumbai, India: Bharatbook.com announces a report on “ Report on Retail Banking Market Insights Norway "https://www.bharatbook.com/financial-service-market-research-reports-749920/retail-banking-norway.html 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 of mortgage ownership (57%) suggests that Norwegian households have relatively broad access to mortgage credit.

• Norway’s mortgage balances outstanding totaled NOK 1.74tn in 2014, up from NOK1.21tn in 2009.

• Around a third of consumers in Norway have a personal loan and consumer lending is dependent on overall economic development. The personal loans market is dominated by DNB, Sparebank 1 Gruppen, and Sanderson, with almost 42% of loans held with these two providers.

• More than two thirds of the population use smart phones in Norway, implying a large potential market for mobile-delivered financial services. Continued investment in Norway’s banking infrastructure is the key to progress.

Synopsis

Retail Banking Country Snapshot: 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. It includes both market-level data and insight from our global consumer survey.

• Overview of Norway’s banking sector.

• Insight into consumer preferences in Norway and the reasons for taking out and using their financial products and how this has evolved in recent years.

• Discover which providers dominate the current account, savings, mortgage, and loan markets and the different factors persuading customers to choose them.

• Examination of the extent to which consumers are using on line and mobile channels to research, take out, and use their financial products.

Reasons To Buy

Futureproof your strategy with market sizing, forecasts, and analysis of key developments currently affecting Norway’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.

For more information kindly visit : https://www.bharatbook.com/financial-service-market-research-reports-749920/retail-banking-norway.html

Related Reports : https://www.bharatbook.com/service-industry-market-research-report/financial-service.html

About Bharat Book Bureau :

Bharat Book Bureau is the leading market research information provider for market research reports, company profiles, industry analysis, country reports , business reports, newsletters and online databases Bharat Book Bureau provides over a million reports from more than 400 publishers around the globe. We cover sectors starting from Aeronautics to Zoology.

In case the reports don’t match your requirement then we can do a specialized Custom Research for you. Our multifarious capabilities, cross-sector expertise and detailed knowledge of various markets, put us in a unique position to take up Custom Research demands of yourself.

OR

Contact us at :

Bharat Book Bureau

Tel: +91 22 27810772 / 27810773

Email: info@bharatbook.com

Website: www.bharatbook.com

Follow us on Twitter: https://twitter.com/researchbook

Follow us on Linked In : http://www.linkedin.com/company/bharat-book-bureau

Our Blog : https://www.bharatbook.com/blog/

Bharat Book Bureau, the leading market research information aggregator provides market research reports, company profiles, country reports, newsletters, and online databases for the past twenty four years to corporate, consulting firms, academic institutions, government departments, agencies etc., globally, including India. Our market research reports help global companies to know different market before starting up business / expanding in different countries across the world.