Fintech PR
Government Policies and Investor Interest Catalyze PHP 14 Trillion Retail Deposit Market in the Philippines: Ken Research
A booming banking sector alongside government aid to be the backbone of Philippines Retail Deposits Market, says a report by Ken Research.
GURUGRAM, India, Sept. 26, 2023 /PRNewswire/ —
Story Outline
- Philippine government promotes digital payments, security, and financial inclusion, boosting customer trust. Measures like Circular No. 1048 improve retail deposits.
- Philippines’ retail deposits grow as the economy thrives, investors trust the stable banks, good rates, and investment choices available.
- Investments in retail deposits help banks and the economy. Stable funds from deposits support lending and create a positive banking environment.
Interested to Know More about this Report, Request a Free Sample Report
1. Government Initiatives to Increase Financial Inclusion, promote digital Payments and Enhance Consumer Security are giving confidence to customers to make more deposits.
Government initiatives in the Philippines are playing a crucial role in shaping the retail deposit market. With a focus on increasing financial inclusion, promoting digital payments, and enhancing consumer security, these initiatives have instilled confidence among customers to make more deposits. The inclusion of digital wallets and e-payments has provided consumers with convenient and easy-to-use options, enabling them to make better choices. Furthermore, the implementation of enhanced consumer protection measures, such as Circular No. 1048 or the BSP Regulations on Financial Consumer Protection, has strengthened the existing infrastructure and executed processes more effectively. Overall, government policies are driving positive transformations in the Philippines retail deposit market, fostering innovation and improving the banking experience for customers.
2. Investment Scenario Bolsters Growth of Philippines Retail Deposit Market
The retail deposit market in the Philippines is experiencing a significant boost due to a favorable investment scenario. The country’s growing economy and increasing investor confidence have led to a surge in investments, thereby contributing to the expansion of the retail deposit market. Investors are actively seeking secure and reliable avenues to park their funds, and retail deposits have emerged as a popular choice. The stability of the banking system, coupled with attractive interest rates and various investment options, has attracted individuals and businesses to deposit their savings in banks. This influx of investments has not only fueled the growth of the retail deposit market but also provided banks with a stable source of funding to support lending activities.
Visit this Link :- Request for custom report
3. The Philippines Banking System as well as the retail deposits segment are both expected to grow steadily in the upcoming years, with projects suggesting the same.
The Central Bank (BSP) has come up with the Digital Payments Transformation Roadmap, covering the years 2020 to 2023 which aims to make digital payments more efficient, accessible to everyone and secure. BSP involves working on various projects and strategies to achieve these goals.
Alongside improving regular payments, the Central Bank (BSP) is also focused on making digital foreign exchange (currency exchange) more efficient, safe, and accessible. They have strategies and projects in place to make this happen.
The Securities and Exchange Commission (SEC) has temporarily stopped allowing new financing and lending companies to register. They are doing this while they create new rules for how these companies should be licensed and registered in the future.
The SEC and the Bureau of Internal Revenue (BIR) are working together to better regulate and tax fintech companies. They want to ensure these companies follow the rules while still encouraging them to grow and come up with new ideas.
Request free 30 minutes analyst call
Conclusion
The retail deposit industry in the Philippines is booming. Government programs that promote digital payments, financial inclusion, and consumer protection have increased public trust in making deposits. Banking transactions have been made simpler and safer due to the development of digital wallets and improved security measures.
Also, the country’s strong investment climate, fueled by its expanding economy and investor confidence, is accelerating the increase of retail deposits. Due to the nation’s reliable banking system, alluring interest rates, and wide range of investment choices, people and companies are choosing retail deposits. Along with helping the retail deposit market, this increase in investments provides banks with the money they need to sustain lending activities. Overall, these elements are crucial for growing the Philippine retail deposit sector.
The India Construction Chemicals market is moderately fragmented in nature, with the presence of many international players. Some of the major players in the industry, are Citi Bank, Union bank, Metro Bank & Sterling Bank of Asia with BDO holding the maximum market share followed by Landbank, Metro Bank & BPI.
Market Taxonomy
Philippines Retail Deposit Market Segmentation
By Banks
Commercial Banks
Thrift banks
Rural banks
By Product
Demand Deposit
Savings Deposit
Time Deposit
LTNCD
By type of depositors
Residents
Government
Banks
Private Corporations
Individuals
Trust Department
Non-Residents
By Account
PESO
FCDU
By Insurance
Fully Insured
Partly Insured
Non-Insured
By Major Regions
Luzon
Visayas
Mindanao
For More Insights On Market Intelligence, Refer To The Link Below: – Philippines Retail Deposit Market
Related Reports by Ken Research: – KSA Lending Market Outlook to 2027- Driven by Government Initiatives, Adoption of FinTech, and Increased Digitalization
According to Ken Research estimates, the KSA Lending Market –in 2022 at a CAGR of 50.4% owing to growing demand for financing penetration in the sector. KSA’s private consumption expenditure has risen, indicating improved living standards and reduced poverty. Demographic factors influence lending preferences, with under-24 individuals seeking credit for education and ventures, while 25-54 age group seeks loans for homes and cars.
The US Micro Lending market is expected to grow at a CAGR of 12 % from 2022 to 2028 with low-interest Rates, Ease of Access, Technological Advancements, flexible repayment schedules, and Alternative credit score models. As the market is anticipated to grow remarkably in the forecasted period thus the demand for microloans will also increase significantly. To match the growing demand micro-lenders are planning to use data analytics and AI (Artificial Intelligence) to tailor lending products to their customers. This help micro-lenders analyses customers’ behaviour and lenders will be able to customize terms and repayment schedules that match with clients’ financial conditions.
The Indian Micro Lending Market is projected to grow at a CAGR of 11% from 2022 to 2028 driven by variables like the unbanked population, the increasing population of microenterprises, government support for microfinance, and digital technology & mobile penetration. The Indian microlending market is all set to dominate the world microlending market within the next decade. Indian microfinance industry will face major transformation in terms of innovation in the coming years. Innovation will enable the market to bring changes in products, service delivery, and process of operations.
Buy Now Pay Later industry in South Africa is estimated to generate a revenue of USD 1569 Million in 2027E, expanding at a CAGR of double digits in between 2022P and 2027E Increasing demand for extra credit line with less stringent KYC procedures without relying on CIBIL scores will be traction for consumers for utilization of BNPL services. Retailers as end user will witness upsurge in revenue contribution to 80% of the market share as more retailers will be coming forward to incorporate the BNPL services in their online and offline store to increase consumer base by collaborating with BNPL players.
Follow Us – LinkedIn | Instagram | Facebook | Twitter | YouTube
Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
[email protected]
+91-9015378249
Logo: https://mma.prnewswire.com/media/1954972/3782349/Ken_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/government-policies-and-investor-interest-catalyze-php-14-trillion-retail-deposit-market-in-the-philippines-ken-research-301938924.html
LIMASSOL, Cyprus, Sept. 20, 2024 /PRNewswire/ — Ultima Markets, a leading global forex and CFDs brokerage, is thrilled to announce its double success at the prestigious Global Forex Awards – Retail 2024. The company won two distinguished awards: “Best Affiliates Brokerage – Global” and “Best Fund Safety – Global.”
The awards were presented during the event in Limassol, Cyprus, where Jean Philippe, Board Advisor, Corporate Governance and Sustainability at Ultima Markets, accepted the honours.
The Global Forex Awards – Retail has celebrated excellence in trading innovation for seven consecutive years. Ultima Markets’ dual wins reflect its commitment to quality, client-centric strategies, and strong partnerships across the financial services sector.
The “Best Affiliates Brokerage—Global” award recognises Ultima Markets’ exemplary affiliate programme, which has successfully driven its global expansion. It is celebrated for its transparency and competitive rewards tailored to affiliate needs.
Receiving the “Best Fund Safety – Global” award highlights Ultima Markets’ efforts to safeguard client assets. Through its partnership with Willis Towers Watson, the company provides up to USD$1,000,000 in insurance per account, while its Financial Commission membership ensures clients access to up to €20,000 in compensation funds.
These recognitions underscore Ultima Markets’ priority to security and transparency, including segregated accounts and robust risk management practices. The broker also assures affiliate partners of exceptional standards.
Commenting on the awards, Jean Philippe said, “These recognitions reflect the exceptional work of our teams to ensure the safety of traders’ funds and our dedication to creating value for our partners and clients. We will continue to evolve and innovate to meet the market’s demands.”
Ultima Markets is renowned for its extensive range of trading products and personalised customer service, designed to meet clients’ diverse needs worldwide. The dual recognition marks a significant milestone in the company’s global growth and reaffirms its reputation for delivering fund safety and robust affiliate opportunities.
“We are delighted to be recognised with these awards, which reflect our mission to create a secure trading environment and build strong, rewarding partnerships,” said Jack Li, Ultima Markets’ Regional Business Director.
About Ultima Markets
Ultima Markets is a fully licensed, fast-growing broker offering access to 250+ financial instruments. With a team of 2,000+ professionals in 15 global offices, we serve clients in 172 countries. Check out more about our awards on Facebook, X, Instagram, LinkedIn and YouTube.
Photo – https://mma.prnewswire.com/media/2509938/iMAGE1.jpg
Logo – https://mma.prnewswire.com/media/2509939/Ultima_Markets_LOGO.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ultima-markets-wins-two-prestigious-awards-at-global-forex-awardsretail-2024-302253644.html
Fintech PR
EQT to acquire Indostar Home Finance, an Indian affordable housing finance company, for INR 17.5 billion (USD 210 million) and invest INR 5 billion to support further growth
STOCKHOLM, Sept. 19, 2024 /PRNewswire/ —
- Indostar Home Finance is a fast-growing affordable housing finance company with INR 24 billion (USD 286 million) in assets under management, that has supported over 39,000 low income homeowners and small businesses
- India’s INR 30 trillion housing finance market presents a multi-decade growth story driven by strong government support, rising affordability and urbanization
- EQT will invest INR 5 billion in primary capital to support Indostar Home’s continued growth, including by broadening its footprint across India and investing in digital capabilities
EQT is pleased to announce that the BPEA Mid-Market Growth Partnership (or “the MMG fund”) has agreed to acquire a 100% stake in Indostar Home Finance (or “the Company”), a wholly owned subsidiary of Indostar Capital Finance Limited, for INR 17.5 billion (USD 210 million).
Founded in 2017, Indostar Home Finance provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has supported over 39,000 low income homeowners and small businesses. The Company has rapidly scaled to more than INR 24 billion in assets under management, achieving a 32 percent compounded annual growth in the last three years. Indostar Home Finance has a network of more than 130 branches spread across nine states and employs over 1,000 people.
The Indian housing finance market currently stands at more than INR 30 trillion, according to the CRISIL. The segment has recorded strong growth driven by government support, rising affordability, and urbanization. However, there remains a significant shortage of housing in the country, with India’s mortgage to GDP ratio at 12.3% compared to more than 60% for developed countries like the USA and UK.
The MMG fund will invest INR 5 billion of primary capital in Indostar Home Finance to support its next phase of growth. EQT aims to expand the Company’s geographic footprint and accelerate its digital transformation journey by leveraging EQT’s in-house digitalization expertise, network of seasoned industry advisors, and expertise in go-to-market strategies.
Ashish Agrawal, Partner in the EQT Private Capital Asia advisory team, said: “Retail lending is a key investment theme for EQT within financial services in India. Building on our investment in the education finance sector through HDFC Credila last year, we are thrilled to welcome Indostar Home Finance to our portfolio. India’s affordable housing finance sector represents a long-term growth opportunity supported by secular demand drivers, favorable government policies and resilient asset quality across economic cycles”
Hemant Sharma, Managing Director in the EQT Private Capital Asia advisory team, said: “Indostar Home Finance has established itself as a leading player in this segment and is well-positioned for continued growth. We are impressed by its market-leading position in South India and strong underwriting capabilities. We see significant potential to expand Indostar’s presence across India and drive its digital transformation. EQT looks forward to supporting the company in its next phase of growth.”
Mr. Shreejit Menon, CEO of Indostar Home Finance, said: “This transaction marks a key milestone for Indostar Home Finance. We are excited to embark on this new journey with EQT, who shares our vision and whose partnership will significantly help advance our mission of delivering affordable housing finance solutions across India. With EQT’s support and global expertise, we are well-positioned for accelerated growth and success.”
The transaction is subject to customary regulatory approvals.
Contact
EQT Press Office, [email protected]
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
|
PR_EQT to acquire Indostar Home Finance_19.09.24 |
|
|
https://news.cision.com/eqt/i/building-facade-in-town-original-965878,c3335524 |
Building Facade In Town original 965878 |
LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.
From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.
Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.
The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!
What’s next?
The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.
Media Contacts:
Alice Nahon
PR Officer
[email protected]
Anne-Laure TRONC
Press Relation Manager
[email protected]
Photo – https://mma.prnewswire.com/media/2510100/WorldSkills_Lyon_2024.jpg
Photo – https://mma.prnewswire.com/media/2510103/WorldSkills_Lyon_2024.jpg
Logo – https://mma.prnewswire.com/media/2205419/4921868/WordSkills_Lyon_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/worldskills-lyon-2024-talented-winners-long-lasting-legacy-302253405.html
-
Fintech PR7 days agoMedius Wins 2024 ISV Partner of the Year Award in Sweden
-
Fintech PR7 days agoMagic Compass Group Launches New Brand and Prop Trading Business
-
Fintech PR7 days agoATFX Connect Launches NDFs
-
Fintech PR7 days agoBingX Lists AgentLayer on Launchpool, Unlocking New Staking Opportunities
-
Fintech PR6 days agoKuCoin Cares Extends up to 10,000 KCS Humanitarian Aid to Typhoon Yagi Victims in Vietnam
-
Fintech PR5 days agoResponse to possible offer announcement by ABC Technologies Inc. (“ABC Technologies”)
-
Fintech PR6 days agoTIME, Statista Name Three SM companies Among World’s Best Companies
-
Fintech PR7 days agoSeaBubbles Accelerates Sustainable Maritime Mobility with SmartBubble and Strategic Acquisition