Home > Back to Publisher > Report Information

Offshore Financial Services In The British Isles 2006

Datamonitor
October 27, 2006
73 Pages - SKU: DFMN1377762

Abstract Table of Contents Search inside this report Related Reports

Countries covered: United Kingdom

Introduction

Offshore Financial Services in the British Isles 2006 also presents and analyses the results of Datamonitor's Offshore Banks in the British Isles Survey, carried out in July 2006 across Guernsey, Jersey and the Isle of Man.

Scope

Sizes, segments and forecasts the offshore deposits and mutual funds markets in Jersey, Guernsey and Isle of Man.
Provides key competitor insight on customer preferences, issues, trends and competitive dynamics.
Combines industry opinion with Datamonitor's proprietary databases to analyze and forecast the offshore financial services markets up to 2008

Highlights

The British Isles offshore markets have retained broadly the same distribution pattern between 2001 and 2005. Since 2001 Jersey has held on average 60% of deposits, rising to 65% in 2004, a majority share it has maintained in 2005. Guernsey holds just under a third of deposits, while the Isle of Man has consolidated a share of around 10%.

While many of the major players consistently stay within the higher ranks of offshore deposits in the British Isles, the positions of the biggest competitors are volatile and can frequently change. Out of the top 12 players in the offshore deposits market in 2004, only 6 remain in 2006, as the market begins to fragment under competitive pressure.

The cost of compliance is becoming a major issue in the British Isles and represents the biggest threat to cost base control. Offshore bankers believe the key to counteracting this threat and strengthening growth is the development of a strong product range.

Reasons to Purchase

Obtain vital market statistics and trends to clarify and explore the provision of offshore services in the British Isles
Quantify the potential of the sector using Datamonitor's offshore deposits and funds market sizing and segmentation
Assess the future of the market with forecasts up to 2008

CHAPTER 1 INTRODUCTION: What is this report about?; Who is the target reader?; How to use this report
CHAPTER 2 MARKET CONTEXT: Introduction; Key findings; The offshore deposits, mutual funds and insurance markets have remained steady; Data tables
CHAPTER 3 COMPETITIVE LANDSCAPE: Introduction; Key findings; There are 13 main competitors in British Isles offshore financial services; Data Tables
CHAPTER 4 OPPORTUNITIES AND THREATS FOR OFFSHORE BANKS IN THE BRITISH ISLES: Introduction; Key findings; Offshore banks' expansion plans may be dented by a rising cost base; Increasing competition and a shortage of quality staff threaten offshore banks in the British Isles; Increasing competition is seen as a serious threat to business growth in the offshore British Isles; Data tables
CHAPTER 5 CLIENT FOCUS: Introduction; Key findings; Traditional sources remain the main channels for client acquisition; A significant threat to client acquisition is posed by competing offshore players; Existing clients are more likely to judge their bank's performance on a qualitative basis; Data tables
CHAPTER 6 THE FUTURE DECODED: Introduction; Key findings; Growth will be driven by strong product ranges and effective client acquisition in the future; A number of strategic initiatives will be implemented in the coming years; Competition will threaten revenues & client acqusition; However, the very fact that the majority of offshore bankers were only concerned about an economic slowdown, or external factors such as political developments, suggests that the industry is still continuing to develop and grow, and the potential threats are more of an early warning than a current concern. The offshore banking industry looks to remain healthy and competitive both now and in the near future. Data tables; Data tables
CHAPTER 7 APPENDIX: Research methodology; Further Reading; Analyst writing team
List of Tables: Table 1: Total offshore deposits held in the British isles, 2005; Table 2: Total offshore deposits held in the British Isles, 2005; Table 3: Total mutual funds held in the British Isles, 2005; Table 4: Total mutual funds held by Guernsey/Isle of Man, 2004-05; Table 5: Isle of Man insurance market, 2005; Table 6: Source of offshore deposits in the British Isles, 2005; Table 7: Who are the biggest competitors in offshore deposits in your jurisdiction in 2005?; Table 8: Who are the biggest competitors in offshore deposits in your jurisdiction in 2004?; Table 9: Which competitor has the most innovative product offering in deposits in your jurisdiction?; Table 10: What makes this/these deposit offerings so innovative?; Table 11: What will be the biggest threat to offshore revenues in the next two years?; Table 12: What will most drive revenue growth in the next two years?; Table 13: What strategic initiatives are you considering or implementing with regard to your offshore business in the next two years?; Table 14: What are the most pressing concerns for your offshore business at present?; Table 15: What are your main areas of concern in controlling the cost base of your offshore business?; Table 16: What will make it hardest for banks in your jurisdiction to gain more offshore clients in the next two years?; Table 17: In your experience, what are the best ways to gain new offshore clients?; Table 18: In your experience, what are main reasons your clients choose to bank with you?; Table 19: What do your expatriate customers look for when choosing their financial services provider?; Table 20: What do your offshore (non-expatriate) customers look for when choosing their financial services provider?; Table 21: In your experience, what are the most likely reasons for clients to switch offshore banks?; Table 22: What will make it hardest for banks in your jurisdiction to gain more offshore clients in the next two years?; Table 23: What are your clients most interested in today?; Table 24: What will most drive revenue growth in the next two years?; Table 25: What will be the biggest threat to offshore revenues in the next two years?; Table 26: What strategic initiatives are you considering or implementing with regard to your offshore business in the next two years?
List of Figures: Figure 1: Jersey continues to dominate offshore deposits in the British Isles in 2005; Figure 2: Retail deposits dominate the offshore market in 2005; Figure 3: Jersey has experienced the strongest growth in the last 4 years; Figure 4: Guernsey is catching up to Jersey in the mutual fund market; Figure 5: Life products dominate the Isle of Man insurance market in 2005; Figure 6: Offshore deposits held in the British Isles originate from a wide variety of sources; Figure 7: Alliance & Leicester has grown to be the biggest competitor in the British Isles offshore deposits market; Figure 8: The competitive landscape has changed significantly since 2004; Figure 9: RBS leads the way for innovative offshore deposit offerings in the British Isles; Figure 10: Technology is the key to product innovation in the 2005 British Isles offshore deposits market; Figure 11: Strengthening the product range will be the key means of increasing revenue in offshore banking over the next two years; Figure 12: Compliance is the biggest threat to the management of cost bases; Figure 13: Attracting quality employees is a major concern for offshore banks in 2006; Figure 14: Macroeconomic issues are the biggest threat to offshore revenues in the next two years; Figure 15: Competition may present a significant impediment to further business growth in the offshore market; Figure 16: Referrals from existing clients are the best way for offshore bankers in the British Isles to acquire new customers; Figure 2: Service and reputation are most important to clients when choosing an offshore bank; Figure 3: Customer service is the most important factor for all segments of the offshore banking client base; Figure 19: Priorities are the same across all client segments when choosing financial services; Figure 20: High fees will be the most likely incentive for clients to switch offshore banks; Figure 21: Offshore competition is likely to be the highest barrier to client acquisition over the next 2 years; Figure 22: High fees are the most likely reason for clients to switch banks; Figure 23: Protecting their asset base is the current priority for offshore clients in 2006; Figure 24: A strong product range is key to future growth; Figure 25: Marketing and Distribution will be primary strategies between 2006-2008; Figure 26: An economic slowdown will have a serious effect on offshore banking in the British Isles

More United Kingdom Banking Reports

UK Weekly Economic Briefing: 27 Apr 2012 by Oxford Economics
As in the 1990s mortgage crisis, the 2008-9 upturn in the possessions rate was preceded by lower lending quality and rising debt and house price ...

UK Weekly Economic Briefing: 20 Apr 2012 by Oxford Economics
Incorporating new and revised data, our estimate of London's output growth in 2011 has been adjusted upwards to 1.9% - a creditable performance given the ...

Collective Investment Schemes in the UK - Industry Market Research Report by IBISWorld
Collective Investment Schemes in the UK This industry includes the administration of UK domiciled (non-real estate) investment trusts and unit trusts/open-ended investment companies, along with the ...

United Kingdom Commercial Banking Report Q2 2012 by Business Monitor International
Since Q108, we have described numerically the banking business environment for each of the countries surveyed by BMI. We do this through our Commercial Banking ...

Financial Management in the UK - Industry Market Research Report by IBISWorld
Financial Management in the UK The Financial Management industry includes the provision of advice, guidance and operational assistance to businesses and other organisations on issues such ...

See all reports like this >>

More United Kingdom Reports

A Comprehensive Study Of The UK Video Conferencing Equipment Market In 2010, Rating & Valuing Each Of The 30 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

A Comprehensive Study Of The UK Tableware Market In 2010, Rating & Valuing Each Of The 166 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

A Comprehensive Study Of The UK Surveyors & Valuers Market In 2010, Rating & Valuing Each Of The 943 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

A Comprehensive Study Of The UK Subsea Engineering Market In 2010, Rating & Valuing Each Of The 142 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

A Comprehensive Study Of The UK Structural Engineering Consultancy Market In 2010, Rating & Valuing Each Of The 300 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

See all reports like this >>

Offshore Financial Services In The British Isles 2006

Share this report

Other tasks

Research Assistance

Related Markets

Banking Reports

Free Alert Me service