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GfK Financial Market Research in CEE by wanghonghx

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									GfK Custom Research   Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria   5th October 2010




                                                                                                     1


Retail Banking in
Central and Eastern
Europe




Growth From Knowledge
GfK Custom Research          Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                     5th October 2010



GfK: Financial Market Research in CEE
                                                                                                                                              2

                                                                                 RUSSIA      KAZAKHSTAN         EGYPT
         CZECH
                      POLAND             SLOVAKIA                               since 2000    since 2005      since 2008
        REPUBLIC
                      since 1994         since 1994
        since 1994
                                                                                 UKRAINE     GfK FMR in CEE
                                                                                since 2000

                                                                                               # 1 prov ider of financial research
                                                                                HUNGARY
  AUSTRIA                                                                                      ~600 financial projects per year
                                                                                since 1994
 since 1978
                                                                                               60 full-time employees
                                                                                ROMANIA         specialized on the financial
  SLOVENIA
                                                                                since 2000      markets
  since 2001
                                                                                               Harmonized monitoring
                                                                                BULGARIA        instruments
  CROATIA                                                                       since 1998
  since 1999                                                                                   Brand and market trackings
                                                                                   SRB
                                                                                               Tailor-made solutions
     BiH
  since 2004
                                                                                since 2002    and much more

                                                       ALBANIA                 MACEDONIA
                                                      since 2008                since 2007
GfK Custom Research                  Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                5th October 2010


Regional Comparison and Benchmarking
Share of population (15-years and older) that have a business relationship to at least one bank
                                                                                                                                                 5
                        Ø ‘Old’ EU-Members
                                       2005                         2006                     2007                  2009            100
             99                                                                                                           98
   100
                                                                                    Ø CEE Countries
                      90                                       90
    90                          88

                                        81                                                                     82
    80                                          76
                                                                               73                       73
                                                                       70
    70


    60
                                                                                       55
                                                                                                 53

    50


    40


    30


    20


    10


     0
                           SK




                                                                     BiH
                   CZ




                                                                                                                          A
           SI




                                                                                            BG
                                     HU




                                                             HR




                                                                                                             UKR
                                                                            SER
                                              PL




                                                                                     RO




                                                                                                                                 Ger
                                                                                                      RUS
Percentages; Source: FMDS CEE
  GfK Custom Research                                     Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                                                                                                        5th October 2010



 Bank products penetration
                                                                                                                                                                                                                                                              7
                                                                                                                                   Saving products penetration (without Construction Saving)
                                                               99
      100
                  94                                                                                                               Account penetration (current account)
       90                                                                                                                          Loans penetration                                                            Consumer loans for
                                                                                                          86
                                                                                                                                                                                                                 goods (consumer
                                 82                                                                                      81              81                                                                    electronics, furniture
                                                                                           80                                                                     Large part of the
       80                                       77                                                                                                             Bulgarians do not relate                               etc…)
             75                                                                                                                                                 the debit card with an
                                                                                                                                                                      account.                                                   70
       70                   66
                                                                                                                                                                                                                   62
       60
                                                                                                                                                                                                     53
                                                                                                                                                                                     51
       50
                                           44
                                                                                                                                                        41             41
       40
                                                          32        32
       30                                                                26                                                                   26                            26
                                                                                                               25              24
                                      23
                                                                                   21 22             21
                       18                                                     20                18                  18
       20                                            16                                                                             16                                                      17
                                                                                                                                                             14                                                         14
                                                                                                                                                   12             11                                      12                          12
       10                                                                                                                                                                        8               7             6
                                                                                                                                                                                                                             4

         0




                                                                                                                                                                    Romania
                                                                                                                                      Hungary




                                                                                                                                                                                                                   Poland
                                                                                                                     Kazakhstan*
               Austria




                                                                                                                                                                                                                                 Serbia
                                                                                                                                                    Bulgaria
                                                           Slovenia




                                                                                       Macedonia




                                                                                                                                                                                                 Herzegovina
                                                                                                                                                                                     Ukraine*
                                                                          Russia*




                                                                                                      Croatia
                                            Slovakia
                             Czeck Rep.




                                                                                                                                                                                                   Bosnia
Percentages; Source: FMDS 2009
Base: years 15+
* Base: years 16+
  GfK Custom Research      Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria   5th October 2010

  Purchasing Power Parity Indices
  EU = 100
  Year 2009
                                                                                                          8




Source: GfK Geomarketing
  GfK Custom Research                    Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria       5th October 2010



  Average net wages development

                                                                                                                            9

                                                                    Average net wages, in BGN




                                                          Net wage and salary annual growth rate, in %




Source: National Statistical Institute
GfK Custom Research                     Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                5th October 2010



Possibilities of saving – uncertain situation in CEE
                                                                                                                                                    10
                                    Will your household be able to save money within the next 12 months?
                                                         Yes                                        No/ucertain/DK/NA




     58
                  66           66                              47
                                          70
                                                    75
                                                                         79         80        83       83       87      89
                                                                                                                             94




     43
                  35           34                              25
                                          30
                                                    25
                                                                         21         20        17       16       13      11
                                                                                                                             6
      A           SK          EST        LIT       RUS         HR       ROM         PL       LAT       BH      UKR      RS   BG

  Source: GfK Mood Barometer 2009
GfK Custom Research                             Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                                                                          5th October 2010



Share of insured population – household and personal
                                                                                                                                                                                                                      11
                                                                        Household                                                                Personal
  100
          93          92
    90                      87
                                  84

    80                                          75

                                          69                 70
    70
                64                                                         63

    60
                                                      53                              54
                                                                                           51
    50
                                                                                                43

    40                                                                                                       38


    30                                                            28

                                                                                 20
    20                                                                                                 16
                                                                                                                                                     14
                                                                                                                   12   12           12 12
    10                                                                                                                                           8                8
                                                                                                                                 4
                                                                                                                                                            2
     0
                                                                                                              Romania
                                                              Hungary




                                                                                       Poland




                                                                                                                                                                         Kazakhstan*
            Austria




                                                                                                                                                 Serbia
                                                                                                  Bulgaria
                       Slovenia




                                                                                                                                                                                       Macedonia
                                                                                                                                                           Herzegovina
                                                                                                                          Ukraine*


                                                                                                                                      Russia**
                                                                            Croatia
                                                 Slovakia
                                   Czeck Rep.




                                                                                                                                                             Bosnia
Percentages; Source: IMDS 2009                       Third party insurance, green card & other types - e.g. travel insurance or provision for pension with national subsidy are
** Source: IMDS 2008, Base: years 16+                not included
  Base: years 15+
* Base: years 16+
  GfK Custom Research             Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                     5th October 2010



  Top 2 reasons for Saving in CEE - 2005
                                                                                                                                   12



                     FOR RAINY DAYS
                   FOR EMERGENCIES                                                            FOR MY CHILDREN




Source: GfK Mood Barometer 2005
  GfK Custom Research               Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                                                         5th October 2010



 Bulgaria in Focus: Client relationship

                                                                                                                                          Age                                             15

                                                                                        100

                                                                                                                             27           31                           Non-client
                                                                                         80                      37
             three banks;                                                                                                                           44
                                                                                                                             6            4                  64
                  3,2
                                                                                         60        80           5            16                                        Three banks and more
                                                                                                                                          18
                                                                                                                12                                   4                 used
                                                                                                                                                    10
                                                                                         40
                                                                                                                                                             1
                                                                                                                                                             4         Two banks used
                                                                                                                47           52           48
                                                                                         20
                                                                                                   4                                                41
                                                                                                                                                             32
                 two banks;                                                                        15                                                                  One bank used
                    10,4               no bank; 46,0                                         0

                                                                                                   15-19        20-29        30-39        40-49     50-59   60 and
                                                                                                                                                            more

                                                                                                                        Personal income
                                                                                       100
                                                                                                                                                      14
                        one bank;                                                                                                              26
                                                                                        80                                           41               8      39         Non-client
                          40,3
                                                                                                                                               5
                                                                                                           68           68                            21
                                                                                        60        76                                           16
                                                                                                                                     2                       5          Three banks and
                                                                                                                                     11                      12         more used
                                                                                        40
                                                                                                                                                                        Two banks used
                                                                                                           4            1
                                                                                                                        4                             57
                                                                                                  1                                            53
                                                                                        20        4                                  46                      44
                                                                                                           28           28
         1.34 banks used on average in 2009                                                       19                                                                    One bank used
                                                                                         0
                                                                                                 Without  Up to   140-    201-    401-               601+   Refused
                                                                                                 income 140 BGN 200 BGN 400 BGN 600 BGN              BGN


Data from 2009
                                    Only 14% of the Bulgarians use services of more than one bank. The highest number of bank connections is found in the
%; Base: Total sample, n=6000
                                    group of 30-49 years and among those people with income above the average.
 GfK Custom Research                   Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                                              5th October 2010



Bulgaria in Focus: Preferred way of communication with the bank
                                                                                                                                                                                 17




                               75,4%




                                                                                                                      Visit bank branch


                                                                                                                      ATM usage


                                                                                                                      Bank consultant to visit you


                                             19,2%
                                                                                                                      Internet banking


                                                                                                                      Telephone banking
                                                               2,7%             2,0%             0,7%




                                         The bank branch is perceived as the most preferred way of communication with the bank. The alternative channels of
Data from 2009                           communication with banks (Online, Internet, Telephone banking) are not very used or have specific target groups.
%; Base: bank clients n=3239
GfK Custom Research                    Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                                                 5th October 2010



Overall satisfaction with banks among the banking population
                                                                                                                                                                                    18

                             very satisfied         satisfied        I can not say either way    rather dissatisfied           very dissatisfied            d.k./n.a.



                     Austria                                          59                                                      30                         9           1

 Bosnia and Herzegovina                                         52                                                       37                             7        21

                    Bulgaria                        32                                                    53                                       10        2 12

                     Croatia                          36                                                       50                                   11            21

           Czech Republic                                  41                                                       45                              11            21

                   Hungary                    22                                                 65                                                     12           1

                Kazakhstan                                              63                                                18                 13              4 2

                 Macedonia                           34                                                        54                                       10           2

                     Poland                    26                                               54                                          13               4 21

                      Serbia                          35                                                  47                                 11             21 3

                      Russia                  23                                                     65                                            3 1       8

                    Slovenia                             37                                                         55                                       7       1

                    Ukraine                          34                                          42                                    13          2 2           8




Percentages; Source: FMDS 2009
Base bank clients
GfK Custom Research   Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria   5th October 2010



Bulgaria in Focus: Overall satisfaction – Reasons why
                                                                                                     19




   Main factors influencing the satisfaction level among Bulgarian customers:


    Transparent policy
    Flexibility/ non-bureaucracy
    Stability and reliability
    Polite employees
    Quick servicing and paying




Source: FMDS 2009
GfK Custom Research        Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria                                    5th October 2010



Risk types in Bulgaria and CEE
                                                                                                            Source: GfK Segmentation 2009
                                                                                                                                           21

                                                           GER    AUT      HR          BUL    RU     UA         ROM



                      Greenhorns
                      „I care little about my financial    10,6   4,4      23,8        25,6   32,4   27,1        17,9
                      future.“



                      Spenders
                      „I enjoy spending money on           13,7   9,4      4,8         5,3    6,4    9,3         4,8
                      consumer goods.“



                      Anxious savers
                      „ I very much prefer to put
                      something by for a rainy day.”       23,2   47,7     43,7        42,4   43,9   44,0        54,9



                      Self-reliant
                      „I manage my financial issues        21,5   4,4      2,2         1,7    1,3    2,6         2,1
                      independently.“




                      Indifferent
                      „I am not interested in financial    14,0   6,9      23,7        23,7   13,7   10,8        17,7
                      issues and news at all.“


                      Service-oriented
                      Preventors
                      “I do not worry about my             16,9   27,2     1,8         1,3    2,2    6,2         2,6
                      provision for old age since I take
                      care of it in time.”
GfK Custom Research   Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria   5th October 2010



Future Predictions: What do we expect in Bulgaria?
                                                                                                     24


 Increase in the banking products usage;

 Increase in the alternative products usage (e.g. e-banking);

 More “educated” and thus more demanding customers;

 Consolidation of business relations with banks;

 Enlarging the products portfolio, thus importance of cross selling.
 GfK Custom Research        Retail banking in CEE – Miroslava Georgieva, GfK Bulgaria   5th October 2010




                                                                                                           25


THANK YOU FOR YOUR ATTENTION!




Miroslava Georgieva
Division Manager Custom Research
GfK Bulgaria
Tel: 930 86 20
e-mail: miroslava.georgieva@gfk.com

								
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