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.
The Philippine insurance sector is composed of life, general or non-life, and reinsurance subsectors – with the life insurance subsector representing a significant portion of the insurance market. Growth in the sector has ...View more details
Brazil's transportation, warehousing and postal services reported a CAGR of 3.3% in value added over the 2014-2019 period. Sector growth stood below overall economic activity, which posted a CAGR of 4.7% in current prices over the same period. ...View more details
The Asian region is home to some of the world’s biggest automotive brands, which has eventually resulted in the birth of local brands in some of the countries. The Asian countries featured in this report – China, India, Thailand ...View more details
The tourism and leisure sector is and will be a one of the top contributors to Malaysia’s economy in years to come, putting the onus on the government to invest heavily in the sector. Malaysia’s location makes it a favourable destination ...View more details
India has one of the most significant gems and jewellery sectors in the world. The country is unrivalled in its production of cut and polished gemstones, processing almost 90% of global rough diamond output. Due to gold’s cultural significance, ...View more details
The Philippines is primarily an agrarian country, with about 22% of its population engaged in farming. In 2019, the agriculture, forestry and fishing (AFF) sector contributed 8.8% to national GDP, according to data from the Philippine Statistics ...View more details
Crude steel production recorded a q/q decline of 1.2% in Q4 FY2020, with a number of companies decreasing their output, such as Jindal Steel Power by 6% and ESSAR by 3%. On the other hand, Tata Steel Ltd recorded a jump of 23% q/q in its crude steel ...View more details
Indonesia has abundant mineral resources and is a major supplier to global markets of bauxite, tin, nickel, copper, zinc, lead, gold and coal. The country holds the world’s largest nickel reserves and was the top nickel producer in 2019. ...View more details
In 2019, China‘s three major national oil companies (NOCs), namely Sinopec Group, CNPC and CNOOC, continued to focus on ensuring national energy supply by increasing their domestic exploration and development efforts. The Chinese crude oil ...View more details
Healthcare remains in inadequate supply throughout most of the SEA region. The shortage is especially evident in healthcare human resources; for instance, apart from Malaysia and China, all the countries in the SEA region have fewer than 1 physician ...View more details