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Published by: Key Note Publications Ltd
Published: Apr. 1, 2003 - 112 Pages
Table of Contents
Executive Summary
1. Introduction
- Personal Banking Overview
- Definition
- Report Objectives
- Research
2. Strategic Overview
- Market Dynamics
- Deposits And Investments
- Borrowing
- Market Sectors
- High-Street Banks And Former Building Societies
- Mutual Building Societies
- Supermarkets
- Post Offices
- Insurance Companies
- Market Status
- Employment
- Table 1: Number Of Staff Employed In Major UK Banks (Bba Members) And Building Societies, 1997-2001
- Current Issues
- Table 2: 'Borrow-To-Buy' Mentality — Attitudes Towards Credit (%), 1989 And 2002
- Market Size
- Table 3: The UK Personal Banking Market By Value (£M), 1998-2002
- Market Sector Growth
- Distribution
- Competitive Structure
- Table 4: Major British Banking Groups And Personal Banking Subsidiaries, 2002
- Advertising
- Table 5: Main Media Advertising Expenditure On General Banking Services By Banking And Financial-Services Companies (£000), Years Ending September 2001 And 2002
- Online Banking
- The Consumer
- Consumer Credit
- Customer Relations
- Market Forecasts
- Table 6: The Forecast UK Personal Banking Market By Value (£M), 2003-2007
3. Deposits And Investments
- Retail Deposits And Cash Management
- Background
- Market Size
- Table 7: Accounts Held In Great Britain By Type (% Of Households), †2000/2001
- Figure 1: Accounts Held In Great Britain By Type (% Of Households), 2000/2001
- Consumer Trends
- New Developments
- Traditional Challengers
- New Challengers
- Long-Term Insurance And Investments
- Background
- Market Size
- Consumer Trends
- Personal Pensions
- Stakeholder Pensions
- Investments
- Risk Management
- Distribution
4. Borrowing
- Background
- Table 8: Types Of Credit Used And Average Amounts Owed Per Household (% And £), 1989 And 2002
- Mortgages
- Market Size
- Table 9: UK Net Mortgage Lending By Value (£M), 1997-2001
- Market Trends
- Table 10: Banks' Share Of Net Mortgage Lending (%), 1997-2001
- Consumer Credit
- Market Size
- Table 11: UK Net Lending For Consumer Credit By Value (£M), 1996-2001
- Table 12: Number Of Credit/Charge Cards In Issue And Number Of Cardholders (Million), 1997-2001
- Market Trends
- The Future
5. Distribution Channels
- Background
- High-Street Branches
- Universal Bank
- In-Store
- Telephone
- Table 13: Number Of Accounts Accessible By Telephone (000), 1997-2001
- M-Banking
- The Internet
- Television
- Atms
- Table 14: Usage Of The UK Atm Network (Number And Million), 1998-2002
- Debit Cards
- Table 15: Debit Card Purchases In The UK: UK-Issued Cards By Volume (Million), 1998-2002
6. An International Perspective
- The Global Market
- Table 16: Top Ten European Countries By Total Banking Assets (Ebn), 1997-2001
- Market Developments
- US
- France
- Germany
- European Issues
- Regulation
- The Euro
7. Pest Analysis
- Political Factors
- Economic Factors
- Social Factors
- Technological Factors
8. Consumer Dynamics
- Consumer Research
- Table 17: Summary Of Personal Banking Experiences (% Of Respondents), 2003
- Usage Of Bank Accounts (Table 18)
- Current And Instant-Access Accounts (S1)
- Long-Term Savings Accounts (S2)
- Table 18: Usage Of Bank Accounts (% Of Respondents), 2003
- Credit Cards And Personal Loans (Table 19)
- Credit Cards (S3)
- Personal Loans (S4)
- Table 19: Credit Cards And Personal Loans (% Of Respondents), 2003
- Overdrafts And Mortgages (Table 20)
- Overdrafts (S5)
- Mortgages (S6)
- Table 20: Overdrafts And Mortgages (% Of Respondents), 2003
- Managed Investments (Table 21)
- Table 21: Managed Investments (% Of Respondents), 2003
- Customer Loyalty (Table 22)
- Investigating Better Deals (S8)
- Use Of One Banks For All Personal Banking Services (S9)
- Table 22: Customer Loyalty (% Of Respondents), 2003
- Branch And Online Banking (Table 23)
- Table 23: Branch And Online Banking (% Of Respondents), 2003
- Use Of Telephone And Television Banking (Table 24)
- Telephone Banking (S12)
- Television Banking (S13)
- Table 24: Use Of Telephone And Television Banking (% Of Respondents), 2003
- Supermarket And Internet-Only Banks (Table 25)
- Supermarket Banks (S14)
- Internet-Only Banks (S15)
- Table 25: Supermarket And Internet-Only Banks (% Of Respondents), 2003
- Consumer Awareness (Table 26)
- Interest Rates (S16)
- Universal Bank (S17)
- Table 26: Consumer Awareness (% Of Respondents), 2003
9. Company Profiles
- Abbey National Plc
- Corporate Strategy
- Strengths And Weaknesses
- Distribution
- Profitability
- Alliance & Leicester Plc
- Corporate Strategy
- Strengths And Weaknesses
- Distribution
- Profitability
- Barclays Plc
- Corporate Strategy
- Distribution
- Profitability
- Bradford & Bingley Plc
- Corporate Strategy
- Strengths And Weaknesses
- Profitability
- Hbos Plc
- Corporate Strategy
- Appointments
- Profitability
- Hsbc Bank Plc
- Corporate Strategy
- Profitability
- Lloyds Tsb Group Plc
- Corporate Strategy
- Strengths And Weaknesses
- Appointments
- Distribution
- Profitability
- Northern Rock Plc
- Corporate Strategy
- Distribution
- Profitability
- The Royal Bank Of Scotland Plc
- Corporate Strategy
- Distribution
- Profitability
10. The Future
- Strategy
- Corporate Activity
- Staffing
- Retailer Issues
- Consumers
- Distribution Channels
- Online Banking
- Borrowing
- Demographic Changes
- Market Forecasts
- Table 27: The Forecast UK Personal Banking Market By Value (£Bn), 2003-2007
- Figure 2: The Forecast UK Personal Banking Market By Value (£Bn), 2003-2007
12. Further Sources
- Associations
- Publications
- General Sources
- Bonnier Information Sources
- Government And Official Sources
AbstractPersonal banking is no longer a market exclusively occupied by banks. Major insurance companies, such as Prudential (which formed the subsidiary online bank Egg), Norwich Union and Legal & General, have started to compete with high-street banking names for personal loans, savings and mortgages. The supermarkets are also significant competitors — Tesco Personal Finance has over 2 million customers, and Sainsbury's Bank is close behind.
Although consumers are being offered basic banking services from an ever-growing range of providers, the banks have broadened their reach. The major insurers may have attempted to take a slice of the retail banks' profits with their new ventures, but the banks have responded by aggressively entering the insurance market, where they have made considerable inroads. Banks are now engaged in a multitude of markets — in addition to providing current and saving accounts, loans and mortgages, they have developed as investment managers, insurers and pensions providers. They have become much more than just banks — they are financial-services organisations aiming to provide their customer with a one-stop-shop for all their financial needs.
Whether this will continue to be the case, however, remains to be seen. 'Bancassurance', which refers to the provision of insurance alongside other banking services, may have been the strategy of choice until 2002. However, current trends suggest an alternative route. All sectors of the personal banking market are facing margin pressure, due to the large number of competitors. As a response, joint ventures, which exploit the expertise of insurers as product manufacturers and the skills of the banks as distributors — while minimising the risks to both — are likely to rise in prominence.
This assessment covers the market, focusing primarily on the UK.
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