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This study explores the threats currently facing the retail banking sector as a result of technological advancement, and sheds light on how incumbents can stay competitive in the digital age by beginning a more radical transformation now.
According to Deloitte’s report, the total size of the retail sector in Turkey is estimated to have reached US$300 billion in 2013 and is expected to grow with a CAGR of 7% between 2014 and 2018.
According to Deloitte’s Economic Outlook Report, the growth of the Turkish economy relatively slows down. By the end of 2014, the growth rate is expected to be 3.5%, inflation is expected to be around 8.5% and the proportion of account deficit to GDP is projected to realize between 5.5%-6%.
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