DUBLIN--(BUSINESS WIRE)--The "Hong Kong Retail Banking - Competitor Benchmarking 2021" report has been added to ResearchAndMarkets.com's offering.
This report looks at market performance, retention risk, and current account market share. It ranks Hong Kong's top banks across a range of criteria, from digital adoption and user experience to rewards and money management tools.
Despite the impact of COVID-19, banks in Hong Kong remain well capitalized and ready to support recovery going forward. All incumbents increased their total divisional assets (TDA) in 2020.
Although the threat of a long-term low-rate environment persists, profitability is unlikely to be affected as banks focus on controlling costs and non-interest income. As net interest margins across the banking sector compress due to the need for ultra-low interest rates, the importance of non-price factors has become significantly more important in the banking space.
- Use of digital channels peaked in 2020. However, reversion to pre-pandemic habits appears to be underway. Standard Chartered, HSBC, Hang Seng Bank, and Bank of China are all experiencing greater branch usage in 2021 than in 2020.
- 38% of Citibank customers have joined within the last five years, suggesting its customer acquisition efforts have been successful.
- HSBC leads the way in terms of cross-selling, with 20% of its customers holding three products with the bank. Challengers ZA Bank and Mox Bank struggle in this regard due to a lack of services.
Reasons to Buy
- Discover which banks in Hong Kong are performing best.
- Learn which banks are under threat and are perceived as behind the curve by customers.
- Understand the Hong Kong retail banking landscape and how it may develop based on key performance indicators.
Key Topics Covered:
- Executive Summary
- Financial Performance, Market Share, and Cross Selling
- Channel Visitation Trends and Digital Adoption
- Customer Satisfaction
- Standard Chartered
- Bank of China
- Mox Bank
- ZA Bank
- Hang Seng Bank
For more information about this report visit https://www.researchandmarkets.com/r/mwacb0
Laura Wood, Senior Press Manager
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