Espagne
The following data have been gathered by Capgemini and are part of the World Retail Banking Report published annually in March.
Macro economic indicators (2006)
|
GDP at current prices and PPP
|
€ 981 billion
|
|
Inhabitants
|
45,1 million
|
|
GDP per head
|
€ 21,752
|
|
Economic growth rate
|
3.5%
|
|
Consumer confidence indicator
|
-12
|
|
Unemployment rate
|
8.5%
|
|
Banking staff
|
256,585
|
|
Annual Compensation and benefits
|
62,487
|
|
Number of branches
|
43,286
|
|
Number of inhabitants / branch
|
1,042
|
|
Number of ATMs
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58,454
|
|
Retail lending as a % of GDP
|
152%
|
|
Households savings ratio
|
8.7
|
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Total Retail Deposits
|
€ 743 billion
|
|
Total Retail Credits
|
€ 1,494 billion
|
|
Number of debit cards/credit cards
|
70,1 million
|
|
Inflation Rate
|
3.5%
|
|
Interest rate, consumer
|
7.99% - 8.89%
|
|
Interest rate, residential mortgage
|
4.12% - 4.22%
|
|
Interest rate on 6 month term
|
3.61%
|
|
Interest rate on long term bonds
|
4%
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Type and size of players
Net banking income (*) and cost/income ratio (**)
(*) Domestic market net banking income in k millions (families, small companies and non-profit institutions).
(**) Global bank efficiency.
Grupo Banco Popular includes the different group retail brands.
Figures does not include private banking second brands.
Number of branches by type of credit institution:
Products
• 92% of the total retail banking deposits are shared by these 18 groups.
• Retail credit demand has grown 25% last year in Spain, despite the continuous increase in interest rates during 2007.
Trends
Market drivers
• The retail mortgage business is still solid in Spain. The mortgage credit grew 24,6% last year.
• However certain signs of restraints in future evolution can be already seen, as interest rates keep on rising, property prices have started a “soft landing”, and the amount of transactions in residential real estate decreased 4% YTD during 2006.
• A collateral risk associated to the Euribor reaching its highest point since December 2000 is the deterioration in Spanish property loan quality, with delinquencies increasing as much as 15-fold by the end of 2008, some analysts predict.
Competitive environment and Business model
• Saving banks keep on gaining market share on commercial banks. This trend extends not only to deposits but also to loans, reaching almost 48% of the credit market share last year. Three saving banks (La Caixa, Caja Madrid, and Bancaja) captured over 51% of total saving banks profits.
• The online banking growth rate slowed for the first time in 7 years. Not only the collectibles scandal but also traditional banks launching highly remunerated deposits affected the online banking competitive position. However, despite the above mentioned developments, 2006 was the first year in which online banks closed a fiscal year with earnings, reaching 80,5 million euros profit for the whole “online banking sector”.
• In response, commercial banks are matching their competitors´ most successful strategies, increasing the amount of branches and luring new customers with highly remunerated deposits in the hopes of curbing market share loss.
Channels
• Both commercial and saving banks have continued to develop their branch network, opening more than 1,600 new branches during 2006.
• To take full advantage of their large commercial network, some leading commercial banks are empowering their branches, extending service-hours and product lines in order to differentiate their offering.
• Multi-channel offering is also extending to former “pure” online players, that are increasingly starting to open “brick and mortar” branches in major Spanish cities.
Regulatory and Tax changes
• On January 1st 2007, a tax system reform took place in Spain. The broad range of measures included the imposition of a flat capital gains tax rate of 18% (i.e. for investments in the stock market, investment funds, real estate, savings accounts, etc.) to be applied regardless the duration of the investment.
• The objective is to provide a more neutral treatment of savings and better incentives for investment and entrepreneurship.
