Impact Assessment of COVID-19 on the UK's Retail Banking Sector
Tuesday, May 26, 2020
DUBLIN, May 18, 2020 /PRNewswire/ -- The "Retail Banking - The UK: Coronavirus (COVID-19) Sector Impact" report has been added to ResearchAndMarkets.com's offering.
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Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with key markets across the world losing 20-50% of their value year-to-date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and many experts predicting the potential onset of recessionary environments.
This report focuses on the impact of the coronavirus outbreak on the economy and the retail banking industry in the UK. Based on proprietary datasets, the snapshot provides a detailed comparison between pre-COVID-19 forecasts and revised forecasts of total mortgage, consumer, credit card loan balances as well as deposit balances in terms of value and growth rates. It also offers information on measures taken by the government to combat coronavirus.
Scope of the report:
-- A wave of measures has been implemented by the government including
fiscal stimulus steps, rate decreases, liquidity measures, and a
relaxation of capital rules. Banks in the UK are offering relief on
payments to mortgage customers.
-- RBS, for instance, will allow loan repayments to be deferred for up to
three months for customers affected by COVID-19. Other banks such as TSB
and Lloyds have also announced similar support.
-- According to the Bank of England, UK banks are better positioned to
withstand the headwinds than they were before the global financial
crisis. Therefore, banks will now have to serve as systemic stabilizers,
particularly as a high number of households may be susceptible to the
effects of coronavirus measures.
Key report benefits:
-- Make strategic decisions using top-level revised forecast data on the
British retail lending and deposits industry.
-- Understand the key market trends, challenges, and opportunities in the
British retail lending and deposits industry.
-- Receive a comprehensive insight into the total consumer loans in the UK,
including mortgages, personal and credit card loans as well as retail
deposits balances.
Key Topics Covered:
COVID-19 Update
Impact Assessment
-- Retail Deposits
-- Total Consumer Loans
-- Mortgage Loans
-- Credit Card Loans
-- Other Consumer Loans
-- Appendix
-- Supplementary Data
-- Definitions
-- Methodology
For more information about this report visit https://www.researchandmarkets.com/r/q8e5gu
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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Research and Markets
Laura Wood, Senior Manager
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View original content:http://www.prnewswire.com/news-releases/impact-assessment-of-covid-19-on-the-uks-retail-banking-sector-301060919.html
SOURCE Research and Markets
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