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Retail Banking Market Share

Report ID: GMI7132
Published Date: Oct 2023
Report Format: PDF

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Retail Banking Market Share

The major players operating in the Retail Banking industry are-

JPMorgan Chase & Co.
Bank of America
Wells Fargo & Co.
Citigroup Inc.
TD Bank Group
HSBC Holdings plc
PNC Financial Services Group, Inc

JPMorgan Chase & Co. and Bank of America are major players in the retail banking business due to their extensive networks, large customer bases, and substantial financial resources. They offer a wide range of retail banking services, including savings accounts, loans, credit cards, and digital banking platforms, catering to diverse customer needs. Their competitive advantage lies in their ability to invest heavily in technology and innovation, enhancing customer experiences and retaining their positions as industry leaders.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of retail banking was worth USD 1.94 trillion in 2022 and is estimated to register a CAGR of over 5% between 2023 and 2032.

The large bank segment accounted for around 30% market share in 2022 and is anticipated to grow through 203,2 due to resources, widespread network, and capacity of these institutes to invest in digital transformation.

North America market captured around 25% share of the retail banking market in 2022 and is slated to register significant growth, due to robust economic conditions and increased adoption of digital technology, providing customers with seamless online and mobile banking services.

JPMorgan Chase & Co., Bank of America, Wells Fargo & Co., Citigroup Inc., TD Bank Group, HSBC Holdings plc, and PNC Financial Services Group, Inc.