{"product_id":"foreign-banks-in-australia-industry-market-research-report","title":"Foreign Banks in Australia - Industry Market Research Report","description":"\u003cp\u003eForeign Banks in Australia - Industry Market Research Report\u003cbr\u003e\nForeign Banks in Australia\u003c\/p\u003e\n\n\u003cp\u003eThe Foreign Banks industry includes domestic subsidiaries of foreign banks, and branches of foreign banks, all of which have grown over the past few years as soaring interest rates has contributed to a sharp rise in revenue. The Reserve Bank of Australia (RBA) maintained a relatively low cash rate over much of the past decade, especially in response to the COVID-19 pandemic to stimulate economic activity. In May 2022, this all changed as inflation rose quickly, leading to the fastest and largest hike cycle on record. These trends combined to ensure an explosion in revenue in 2022-23, especially after a decade of cheap money drove extensive private and corporate borrowing in Australia. Overall, industry revenue is expected to grow at an annualised 9.6% over the five years through 2023-24, to $38.8 billion. This includes anticipated growth of 8.5% in the current year, as interest rates continue their upward trend, albeit at a slower rate.\u003c\/p\u003e\n\n\u003cp\u003eThe industry comprises the banking activities of foreign bank subsidiaries, branches and representative offices in Australia. Foreign banks generate revenue through interest income on loans and advances, and fee and commission income.\u003c\/p\u003e\n\n\u003cp\u003eThis report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.\u003c\/p\u003e","brand":"Service Industries","offers":[{"title":"October, 2023 \/ 37 Pages \/ MCW16278416","offer_id":47710740775218,"sku":null,"price":924.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/foreign-banks-in-australia-industry-market-research-report","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}