Service Tax Additional
select a format
Recent Viewed Reports
Why Ken Reasearch?
While we still are studying and analysing your reports about Vietnam & Thailand, we would like to convey to your research team that they have done a very good job in compiling so much of information together. We hope to see more of such well researched reports. All the best & keep it up. ... "Prashant Bhagwat,General Manager, Mahindra"
We would like to appreciate Ken Research for their great efforts and wonderful support in providing the Market Intelligence Report for ITPC. The information, statistics and research are well understandable and very clear to the point. We are happy with Ken research for their good client service, on-time delivery of the report and as said the report itself. Thank you Ken research for bringing the valuable output for us. We would be looking forward to have more research with you in the near future. Wish you a success in your business!... "Jestin Mathew, Indonesian Trade Promotion Center"
The Report was very interesting and useful for me... "Marketing Manager, Western Union Business Solutions"
Ken Research completed the report successfully with tough deadline and large requirement. Really appreciate it... "Sales Manager, Largest India Aesthetic Laser Manufacturer"
We found the report really useful in understanding the complex Indian market and it provided lots of high quality insights. On the basis of this we commissioned Ken to produce a bespoke follow up to answer some specific questions about our market. This is now being used to help develop our marketing and sales strategy. We were very pleased with the comprehensive coverage, detail provided and actionable insights.... "Owner, Therefore Consulting UK"
Norway has a developed, well diversified, and stable financial system. The market for financial services is concentrated, with a handful of large banks controlling a significant market share. Product ownership rates are high for mortgages and current and savings accounts. Consumers are generally conservative in their choice of provider, with a bias towards providers they have an existing relationship with. The market should open up to new entrants in order to encourage greater competition within the sector.
The banking sector in Norway is concentrated, with the top three providers accounting for 59% of main current accounts.
Norwegian consumers tend to choose providers on the basis of reputational factors and an existing relationship.
11% consumers in Norway have switched their accounts in the last 12 months, which is the highest in the region. However, it is still below the global average.
Norwegian savers are cautious, with around two-thirds saving to protect themselves against unforeseen events and over a third saving for financial investment. A desire for value for money is among the top three consumer characteristics.
The mortgage market in Norway will grow rapidly over the next five years (2015-19). The high rate of mortgage ownership (57%) suggests that Norwegian households have relatively broad access to mortgage credit.
Norways mortgage balances outstanding totaled NOK 1.74tn in 2014, up from NOK1.21tn in 2009.
Around a third of consumers in Norway have a personal loan and consumer lending is dependent on overall economic development. The personal loans market is dominated by DNB, Sparebank 1 Gruppen, and Santander, with almost 42% of loans held with these two providers.
More than two thirds of the population use smartphones in Norway, implying a large potential market for mobile-delivered financial services. Continued investment in Norways banking infrastructure is the key to progress.
Verdict Financials Retail Banking Country Snapshot: Norway is a review of the retail banking sector in Norway, with a particular focus on the current account, savings, mortgage, and personal loan markets. It includes both market-level data and insight from our global consumer survey.
Overview of Norways banking sector.
Insight into consumer preferences in Norway and the reasons for taking out and using their financial products and how this has evolved in recent years.
Discover which providers dominate the current account, savings, mortgage, and loan markets and the different factors persuading customers to choose them.
Examination of the extent to which consumers are using online and mobile channels to research, take out, and use their financial products.
Reasons To Buy
Futureproof your strategy with market sizing, forecasts, and analysis of key developments currently affecting Norways retail banking sector.
Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
Learn about the impact new entrants and distribution channels will have on the market.
BANK INFRASTRUCTURE & REGULATION
Sparebank 1 Gruppen
SEB and Norges Bank
Current Account, Savings, Mortgage, Loan, Online, Mobile, Branch, New Entrant, Competition, Gross Advances, Outstanding Balances, Banking, Norway