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Market Guide: Retail Investment Market in Spain 2006

Datamonitor
February 5, 2007
44 Pages - SKU: DFMN1474337

Abstract Table of Contents Search inside this report Related Reports

Countries covered: Spain

Introduction

This report is most appropriate for companies looking for an overview of the retail investments markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor's Retail Savings and Investments Interactive Database 2006.

Scope

Sizes retail deposits, mutual funds, equities and bonds;

Presents competitor market data for retail banks and mutual fund companies;

Assesses regulatory barriers and opportunities; 5 years historic data from 2001-5 and 5 year forecast to 2010

Highlights

During 2005, as competition intensified in the Spanish financial services sector, many providers expanded their network of offices / branches. Bank branches added 378 to their number, as compared to an increase of 915 offices of savings banks. Savings banks have been expanding both within and beyond their geographical markets.

In 2005, the increase in assets under management by mutual funds and investment companies was due to new subscriptions in more conservative funds and appreciation in the value of equities. Spanish risk aversion accounted for higher allocations to lower risk funds, despite the favorable performance of the stock market over the last 3 years.

The majority of investment companies are foreign organizations; however Spanish firms have been expanding their market share by using representatives. Portfolio management companies have been decreasing in number, due to intensified competition from brokers, broker dealers and credit institutions.

Reasons to Purchase

Get an overview of the retail investment market, including past growth and forecast growth;

Assess regulatory barriers and opportunities affecting retail investments in this country;

Analyze competition from retail banks and mutual fund companies.

EXECUTIVE SUMMARY - MARKET HIGHLIGHTS: Market overview; Market forecasts; Market regulation; Competitive market structure; Market leaders
INTRODUCTION

What is this report about?
Who is the target reader?
How to use this report
CHAPTER 1 MARKET OVERVIEW
Introduction
The retail market accounts for more than three-quarters of investments in mutual funds in Spain, and more than 50% of deposits
Close to 60% of all retail investments is held in deposits
Since 2003, the composition of household savings portfolios has been stable, with nominal increases in the proportion of mutual funds
CHAPTER 2 MARKET FORECASTS
Introduction
Key findings
Deposits and mutual funds will continue to account for more than 80% of household wealth
CHAPTER 3 MARKET REGULATION
Introduction
Key findings
The Central Bank and the Comisión Nacional del Mercado de Valores regulate the Spanish financial services industry
The Banco de España has enhanced the anti-money laundering requirements applicable to banks
Spanish credit institutions, including banks, adopt new accounting standards
Spanish savings banks adjust to closer regulation by the Banco de España and CNMV
For banks and investment companies, Basel II capital adequacy requirements imply additional investment in risk management expertise and in IT systems to calculate risk
Banks, asset management companies and investment companies that belong to financial conglomerates face additional supervisory requirements
Legislation aims at improving the flexibility and efficiency of the collective investments sector, while enhancing investor protection
New rules govern the portfolios of investment companies
Upcoming EU legislation (UCITS directive and MiFID) facilitates market development and enhances consumer protection
CHAPTER 4 COMPETITIVE MARKET STRUCTURE
Introduction
Key findings
Credit-co-operatives represent close to one-third of all banks in Spain
The top two banks dominate Spain's banking industry
The leading savings bank rivals Spain's biggest banks
The market leaders control more than 40% of the banking industry
Spanish banks are increasing their branch presence
The leading banks also dominate the collective investments industry
SICAVs represent the largest category of available collective investments in Spain
Competitors in securities trading include investment companies and other authorized institutions
CHAPTER 5 MARKET LEADERS
Introduction
Key findings
BBVA is the market leader, based on customer deposits to commercial banks; it has the second largest asset management company
Banco Santander trails the market leader in banking but ranks first among asset managers
La Caixa ranks third among banks and asset managers
Caja Madrid is the fourth highest ranked bank by total deposits; Gesmadrid is the fifth largest asset manager
Banesto rounds out the top 5 banks, while Ahorro Corporación is the fourth largest asset manager in Spain
APPENDIX
Definitions
Asset manager / Asset management company
Bank
Collective Investment Scheme
Friendly society
Fund of funds
Hedge fund
Investment company
Non-retail market
Retail market
UCITS
Further reading
Savings and Investments SPP
Interactive Databases
Reports
Related Global Wealth Service SPP Reports
Interactive Databases
Market Reports
Strategic Insight Reports
Wealth Management Competitor Tracker
SPP writing team
List of Tables

Table 1: Total Savings & Investments segmented by retail v institutional, EURm, as at Dec 2005
Table 2: Total Savings & Investments segmented by retail v institutional, in percentages, as at Dec 2005
Table 3: Retail Savings & Investments, segmented by asset class, EURm, as at Dec 2005
Table 4: Retail Savings & Investments, segmented by asset class, EURm, 2001 - 2005
Table 5: Retail Savings & Investments, segmented by asset class, in percentages, 2001 - 2005
Table 6: Retail Savings & Investments, segmented by asset class, EURm, 2006 - 2010
Table 7: Retail Savings & Investments, segmented by asset class, in percentages, 2006 - 2010
Table 8: Number of banks segmented by type, as at Dec 2005
Table 9: Top 5 banks by Customer Deposits, as at Dec 2005
Table 10: Top 5 savings banks by customer deposits, as at Dec 2005
Table 11: Top 5 banks and savings banks, by customer deposits, as at Dec 2005
Table 12: Top 5 asset management companies by assets under management (AuM), as at Dec 2005
Table 13: Number of collective investment schemes segmented by type, as at Dec 2005
List of Figures
Figure 1: Deposits and equities form the bulk of savings & investments in Spain in 2005
Figure 2: Deposits represent 57% of household savings, while mutual funds account for just over one-quarter
Figure 3: Deposits consistently account for the single highest proportion of household assets, followed by mutual funds
Figure 4: Over the next 5 years, deposits will continue to dominate retail savings & investments, reaching EUR681bn by 2010
Figure 5: Credit co-operatives dominate the Spanish banking sector
Figure 6: BBVA and Banco Santander control 29% and 24% of the bank sector, respectively, measured by customer deposits
Figure 7: La Caixa controls one-fifth of the savings bank sector
Figure 8: The banking sector is dominated by the leading banks and savings banks, in terms of customer deposits
Figure 9: Santander manages one-quarter of all mutual fund assets
Figure 10: Over 90% of available collective investments are SICAVs or equity funds

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Market Guide: Retail Investment Market in Spain 2006

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