Singapore Retail Banking Competitor Benchmarking - Analyzing Top Players Market Performance and Share, Retention Risk, Financial Performance, Customer Relationships, Customer Satisfaction and Actionable Steps

Singapore Retail Banking Competitor Benchmarking - Analyzing Top Players Market Performance and Share, Retention Risk, Financial Performance, Customer Relationships, Customer Satisfaction and Actionable Steps, which is part of a series of Singapore content including country analysis and consumer profiles - analyzes financial performance, depth of customer relationships, and customer satisfaction. It ranks Singapore's top banks across a range of criteria, from digital experience to product clarity and money management tools

Singapore banks are well capitalized and have recovered well from the pandemic, with total divisional assets rising and impairments falling. However, they have seen rising costs over the last 12 months. In terms of market power DBS dominates, leading the way in terms of current accounts, retail deposits, residential mortgages, credit cards, and personal loans.

Scope

• DBS continues to account for over a third of the current account market.
• Loyalty rewards and competitive pricing are the most important factors determining Net Promoter Score. Loyalty rewards currently have the lowest net satisfaction score in the market.
• All of Singapore's leading banks have struggled with costs, with each bank having a higher cost/income ratio in 2021 compared to 2020.

Reasons to Buy

• Identify factors affecting growth prospects across Singapore's current account, deposit, credit card, personal loan, and mortgage markets.
• Track competitor gains and losses in market share.
• Assess the financial performance of competitors.
• Benefit from detailed analysis of the drivers of customer advocacy.