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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.
The seeds of banking sector liberalisation were sown in the 1990s when the government began allowing the entry of privately owned participants in what was hitherto a wholly government-owned sector. While the market share of public sector banks has ...
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The changing demographic and disease profiles of Hungary were the drivers of the expansion of health expenditure in recent years. As a result, the country spent 7.4% of its GDP on healthcare in 2016, still below the EU average. The government ...
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Colombia’s automotive sector is highly skewed towards the production of motorcycles. The country has managed to build the second largest two-wheel motor vehicle industry in Latin America, after only Brazil, thanks to high consumer preferences ...
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Turkey has a well-developed food and beverage industry, which serves a population of over 82mn and around 40mn tourists annually. The sector accounts for almost 14% of Turkey’s total industrial production and is among the few having a positive ...
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Turkey’s agriculture sector generates nearly 6% of the country’s GDP and provides employment for almost a quarter of the workforce, as it is the principal employer in rural areas. The sector benefits from favourable geographical ...
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Russia’s construction sector emerged from recession in 2018, with the value of construction works rising for the first time in five years. Growth was driven entirely by large-scale infrastructure projects and works related to the FIFA World Cup ...
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During the first quarter of 2019, there was an improvement in the currency exchange rate and oil prices, which had a positive effect on the air transportation sector in China. Demand remained strong, while the temporary grounding of all 96 of ...
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Indonesia is home to the largest ICT market in Southeast Asia, catering for a population of nearly 270mn people. The complex geography of the archipelago nation predefines the dominant position of mobile services over fixed-line. The penetration of ...
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The banking sector in China continued its steady growth in Q4 2018. The total assets of the sector reached RMB 268,240bn, rising by 6.3% y/y or 1.5% q/q. City commercial banks experienced the fastest expansion with assets increasing by 8.3% y/y or 3 ...
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Though the country has abundant metal resources, Indonesia’s metal processing sector is underdeveloped. It has low penetration rate as it accounted for less than 1% of the country’s nominal GDP in 2018. However, the government sees it as ...
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