/24-7PressRelease/ - NEW DELHI, INDIA, April 08, 2007 - Lack of transparency in pricing, low capitalization, growing competition from international banks, and banking of the unbanked people are the main challenges commercial banks in big economies, including Kenya, of Africa are facing, a survey by PwC (PricewaterhouseCoopers) has identified.
"The survey is of particular interest to existing and potential industry players as it highlights the intensity of competition in the different regions and which factors are driving change and development in these markets. There are common themes but some interesting contrasts", said Tom Winterboer, banking and capital markets leader, PwC, South Africa, in a statement reported on March 7, 2007 by allAfrica.com.
South African banks rate positive action, recruitment of expert personnel, and empowerment as their top most important priorities.
Corporate baking emerged as the most emulous sector in the five of the six surveyed countries. Corporate banking left retail banking, vehicle financing, investment banking, Internet banking, and home loans behind in the competition race in the PwC survey.
Kenya counted retail banking parallel to corporate banking as the most emulous, while South Africa reckoned investment banking and vehicle financing as the highest competitive segments.
While the banking sector of South Africa is the most developed one, Winterboer opined that healthy growth was predicted from countries like Nigeria. South Africa had around 15,600 ATMs at 2006 end and the number is projected to climb to 20,500 through 2010. While the Nigerian banking sector had installed only 1200 ATMs by 2006, this value is believed to swell to a striking 5,700 by 2010.
The RNCOS report “Banking Sector in South Africa”, says that the banking sector in South Africa has been developing stupendously and it is evident from the fact that total banking assets in SA increased by 12% in 2005 as against 2004. Economic prosperity, strong GDP growth rate, swelling disposable incomes from the bankable houses, and rapid urbanization will further push the growth of the South African banking sector.
The market research report introduces one to the South African banking sector. It furnishes comprehensive information on industry performance, subsuming total banking assets, capital adequacy ratio, profitability, efficiency, non-performing loans, industry by product (including loans, credit cards, Mzansi accounts), and industry analysis covering driving forces, opportunities, challenges, and future outlook. The report also provides a detailed account on regulatory framework and proposed amendments in the South African banking sector supplemented with poignant tables and graphs.
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