Retail Banking Market Insights: Norway REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 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. Key Findings 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. Synopsis 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. Post Views: 3