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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
After an uptick of 9.1% y/y in Q3 2020, the premium growth of China’s insurance sector recorded a remarkable deceleration in Q4 2020, at 1.8% y/y. The total assets of the insurance sector at end-2020 grew by 13.3% to RMB 23.3tn, ...
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The revenue of China’s food sector in Q1 2021 reached RMB 489.2bn, up by 23% y/y, driven by increased sales and prices of some major foods. The total profit of the food sector in January-March 2021 soared by 37.8% y/y ...
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The COVID-19 pandemic severely impaired the operations of the Mexican automotive sector. It suffered from disruptions to global supply chains, lockdown restrictions and dwindling demand, both in the domestic market and the US – the ...
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The ICT sector of the Philippines is witnessing changes owing to government support and heightened competition. The COVID-19 pandemic which led to a surge in demand for data, exposed the inadequacies in the digital infrastructure ...
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Sold production of the coal mining sector amounted to PLN 24.6bn in 2019, corresponding to 1.1% of Poland's GDP. On average, the sector employed 79,200 people that year, which accounted for 0.7% of the total workforce. The level of ...
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Brazil’s food and beverage sector is of great importance to the country’s external trade, employment and GDP. According to the Brazilian Association of Food Industries (ABIA), the sector’s revenues accounted for 10.6% of ...
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Africa’s construction sector has been playing an increasing role in driving the continent’s economic growth in recent years. Africa is still a developing region and as such, there is a continuous need to address ...
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There are 70 different types of minerals produced in Turkey. The country ranks 10th globally in terms of mineral diversity―holding 0.4% of the world’s metallic mineral reserves, 2.2.% of the industrial raw material reserves, 1% of ...
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Turkey has a well-developed food and beverages sector, serving a young and growing population of over 84mn. In addition to the large domestic market, the sector serves a large number of foreign tourists, rising by 14.2% y/y to 45 ...
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Russia’s agriculture sector has been expanding at a robust pace over recent years, helping the country achieve self-sufficiency in the production of a number of crops such as wheat, barley, corn and rye, as well as poultry ...
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