The global universal banking market is experiencing growth due to convenience for customers and competitive advantage.
PORTLAND, Ore., March 4, 2025 /PRNewswire/ — Allied Market Research published a report, titled, “Universal Banking Market by Service (Commercial Banking Service, Investment Banking Service, Retail Banking Service and Others), and Function (Deposit and Lending, Wealth Management, Asset Management and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the universal banking market was valued at $3.2 trillion in 2023, and is estimated to reach $8.3 trillion by 2032, growing at a CAGR of 10.9% from 2024 to 2032.
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Prime determinants of growth
However, regulatory constraints hinder market growth to some extent. On the contrary, technological advancements and integrated financial solutions offer remunerative opportunities for the expansion of the global universal banking market.
Report coverage & details:
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Report Coverage |
Details |
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Forecast Period |
2024–2032 |
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Base Year |
2023 |
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Market Size in 2023 |
$3.2 Trillion |
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Market Size in 2032 |
$8.3 Trillion |
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CAGR |
0.109 |
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No. of Pages in Report |
200 |
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Segments Covered |
Service, Function and Region. |
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Drivers |
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Opportunities |
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Restraint |
Regulatory Constraints |
Segment Highlights
The commercial banking segment held the largest market share in 2023
By service, the commercial banking segment held the largest market share in 2023, owing to its important role in providing comprehensive financial services to businesses. It offers a wide range of products such as business loans, credit lines, cash management services, and treasury solutions, which are essential for the daily operations and growth of businesses. In addition, the increasing demand from small and medium-sized enterprises (SMEs) and large corporations for tailored financial solutions, along with the growth in global trade and economic activities, thereby significantly contributed to the dominance of the commercial banking segment in the universal banking market.
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The deposits and lending segment held the largest market share in 2023
By function, the deposits and lending held the largest market share in 2023, owing to its essential role in providing fundamental banking services. It includes savings and checking accounts, personal and business loans, and mortgages, which are vital for daily financial operations and economic growth. The ability to attract deposits ensures a stable funding source for banks, while lending activities generate substantial interest income, driving profitability. The widespread necessity and usage of these services make the segment dominant in the universal banking market
North America to maintain its dominance by 2032
North America led the market share in 2023, owing to its advanced financial infrastructure, robust economy, and high adoption of innovative banking technologies. The presence of major global financial institutions and a well-regulated banking sector contribute to market stability and growth. Additionally, the strong demand for diverse banking services from a large consumer base, along with significant investments in digital banking solutions and financial inclusion initiatives, drives the region’s dominance in the universal banking market.
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Players: –
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JPMorgan Chase
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Bank of America
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Wells Fargo
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BNP Paribas
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Deutsche Bank
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Barclays
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Banco Santander
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Mizuho Financial Group
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Lloyds Banking Group
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HSBC Bank
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ICICI BanK Ltd
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HDFC Bank Ltd
The report provides a detailed analysis of these key players in the global universal banking market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, acquisition and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Development:
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In May 2023, JPMorgan Chase announced it acquired a substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). By executing this transaction, JPMorgan Chase is leveraging its significant strength and execution capabilities to support the U.S. financial system. As part of the…
Read More: Universal Banking Market to Reach $8.3 Trillion, Globally, by 2032 at 10.9%