Product Code: GVR-4-68040-074-4
Retail Banking Market Summary
The global retail banking market size was estimated at USD 2,039.25 billion in 2024, and is projected to reach USD 3,373.43 billion by 2033, growing at a CAGR of 5.8% from 2025 to 2033. The growth is driven by rapid technological advancements shaping the market's dynamics and growth potential. The progress in digital technologies has transformed the way customers interact with banks.
The rise of online and mobile banking has made banking services more accessible and convenient for customers, allowing them to conduct transactions, check balances, and access a wide range of services at their fingertips. Another significant driver is changing customer expectations. Customers nowadays expect personalized and tailored banking experiences. They demand seamless integration across various channels, including online, mobile, and physical branches. Banks that can adapt and provide a superior customer experience through personalized services, innovative products, and efficient processes are likely to thrive in the competitive market. Moreover, demographic shifts are impacting the retail banking industry. The growing middle class in emerging economies creates new opportunities for banks to create customer's banking requirements.
In addition, competition within the retail banking sector is intensifying. Traditional banks face competition from fintech startups and technology players entering the financial services space. These new players leverage technological innovations, such as deep learning and blockchain, to offer disruptive products and services. Traditional banks are focusing on embracing digital transformation, collaborating with fintech firms, or developing innovative solutions to stay competitive.
Regulatory changes also play a crucial role in shaping the retail banking landscape. Governments and regulatory bodies worldwide impose strict regulations to enhance consumer protection, ensure financial stability, and promote fair practices in the banking industry. Compliance with these regulations requires banks to invest in robust risk management systems, data protection measures, and regulatory reporting capabilities. Moreover, transparency, security, and ethical practices can gain a competitive advantage for the market players and foster long-term customer relationships, driving the market growth further.
However, the market growth is obstructed by the threat of increasing cybersecurity risks. As digitalization expands, banks face a growing number of cyber threats, including data breaches, identity theft, and fraudulent activities. These risks not only harm the customers but also damage the reputation of the banks. To overcome this challenge, banks need to prioritize cybersecurity measures and invest in robust systems to protect customer data. Implementing multi-factor authentication, encryption techniques, and continuous monitoring can help mitigate risks.
Global Retail Banking Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest Industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global retail banking market report based on type, service, and region.
- Type Outlook (Revenue, USD Million, 2021 - 2033)
- Public Sector Banks
- Private Sector Banks
- Foreign Banks
- Community Development Banks
- Non-banking Financial Companies (NBFC)
- Service Outlook (Revenue, USD Million, 2021 - 2033)
- Saving and Checking Account
- Transactional Account
- Personal Loan
- Home Loan
- Mortgages
- Debit and Credit Cards
- ATM Cards
- Certificates of Deposits
- Regional Outlook (Revenue, USD Million, 2021 - 2033)
- North America
- Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Middle East and Africa (MEA)
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. Country Based Segment Share Calculation
- 1.8. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Retail Banking Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. End Use Challenge
- 3.3. Retail Banking Market Analysis Tools
- 3.3.1. End Use Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and social landscape
- 3.3.2.3. Technological landscape
Chapter 4. Retail Banking Market: Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Retail Banking Market: Type Movement Analysis, USD Million, 2024 & 2033
- 4.3. Public Sector Banks
- 4.3.1. Public Sector Banks Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.4. Private Sector Banks
- 4.4.1. Private Sector Banks Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.5. Foreign Banks
- 4.5.1. Foreign Banks Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.6. Community Development Banks
- 4.6.1. Community Development Banks Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.7. Non-banking Financial Companies (NBFC)s
- 4.7.1. Non-banking Financial Companies (NBFC)s Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 5. Retail Banking Market: Service Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Retail Banking Market: Service Movement Analysis, USD Million, 2024 & 2033
- 5.3. Saving and Checking Account
- 5.3.1. Saving and Checking Account Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.4. Transactional Account
- 5.4.1. Transactional Account Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.5. Personal Loan
- 5.5.1. Personal Loan Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.6. Home Loan
- 5.6.1. Home Loan Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.7. Mortgages
- 5.7.1. Mortgages Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.8. Debit and Credit Cards
- 5.8.1. Debit and Credit Cards Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.9. ATM Cards
- 5.9.1. ATM Cards Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.10. Certificates of Deposits
- 5.10.1. Certificates of Deposits Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 6. Retail Banking Market: Regional Estimates & Trend Analysis
- 6.1. Retail Banking Market Share, By Region, 2024 & 2033, USD Million
- 6.2. North America
- 6.2.1. North America Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. U.S. Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Mexico Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3. Europe
- 6.3.1. Europe Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.2. UK
- 6.3.2.1. UK Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.3. Germany
- 6.3.3.1. Germany Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD MILLION)
- 6.3.4. France
- 6.3.4.1. France Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.5. Italy
- 6.3.5.1. Italy Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.2. China
- 6.4.2.1. China Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.3. Japan
- 6.4.3.1. Japan Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.4. India
- 6.4.4.1. India Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.5. South Korea
- 6.4.5.1. South Korea Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.4.6. Australia
- 6.4.6.1. Australia Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6. Middle East and Africa
- 6.6.1. Middle East and Africa Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.2. UAE
- 6.6.2.1. UAE Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.3. KSA
- 6.6.3.1. KSA Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.6.4. South Africa
- 6.6.4.1. South Africa Retail Banking Market Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Company Market Positioning
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles/Listing
- 7.4.1. BNP Paribas
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Strategic Initiatives
- 7.4.2. Citigroup, Inc.
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Strategic Initiatives
- 7.4.3. HSBC Group
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Strategic Initiatives
- 7.4.4. ICBC
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Strategic Initiatives
- 7.4.5. JP Morgan Chase & Co.
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Strategic Initiatives
- 7.4.6. Bank of America Corporation
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Strategic Initiatives
- 7.4.7. Barclays
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Strategic Initiatives
- 7.4.8. Wells Fargo
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Strategic Initiatives
- 7.4.9. Deutsche Bank AG
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Strategic Initiatives
- 7.4.10. Mitsubishi UFJ Financial Group, Inc.
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Strategic Initiatives