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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Thailand’s socioeconomic background is conducive to growth in the insurance sector. Years of robust economic growth have contributed to a rising middle-class. Thailand is also aging at a rapid pace, and the complex, evolving needs of the ...
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The Philippine banking sector has consistently achieved growth in recent years, following the growth of the Philippine economy. Being at the core of the country’s financial system, it is expected to grow on the same trajectory as the economy. ...
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Thailand’s strong economic growth has resulted in a constantly increasing demand for oil and gas. Natural gas accounts for about 60% of the country’s power generation. Its oil and gas reserves are decreasing amid rising domestic petroleum ...
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China is the world’s leading producer and exporter of textiles and apparel. The sustained and stable growth of textile and apparel exports is crucial in ensuring China's foreign exchange reserves, balance of international payments, stable RMB ...
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Despite the outbreak of COVID-19 and the consequent business disruptions in Q1 2020, China’s insurance sector maintained its expansion trend. The sector’s total assets reached RMB 21.7tn at the end of the quarter, representing a growth of ...
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Despite the impact of the COVID-19 pandemic, the growth of China’s banking sector has been solid. According to statistics published by China Banking and Insurance Regulatory Commission, the total banking assets reached RMB 302tn during the ...
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2019 was a challenging period for the banking sector in Argentina. Starting in April 2018, an economic contraction unfolded, continuing throughout 2019, deteriorating business activity. A sharp devaluation of the Argentine peso and a jump in ...
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The mobile telephony subsector is set to undergo a big change, as the current duopoly of PLDT Inc and Globe Telecom Inc will be challenged by the entry of a third player, DITO Telecommunity Corp. On the back of this development, this subsector has ...
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In early 2020, a worldwide outbreak of coronavirus occurred, affecting the global socio-economic reality. COVID-19 posed a particular challenge to the healthcare industry. Since the pandemic started in Wuhan, Hubei province, China took a leading role ...
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In the first quarter of 2020, China food sector’s revenue dropped by 10.9% y/y to RMB 397.8bn, due to the coronavirus pandemic. The large-scale quarantine also harmed the sector’s total profit for that quarter, which slumped by 28.2% y/y ...
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