According to the latest research findings by the independent London-based global research firm TechNavio, ICICI Bank is a Leader in the Global MSME (Micro, Small and Medium Enterprise) Financing Market. The findings are for the forecast period 2014-2018.
As per research analysis, ICICI Bank has the highest capital adequacy ratios with sound capital management, that is helping it strengthen its financial position to pursue its growth and expansion plans and will be a major player in the coming years. The other leading players in the Global MSME Financing Market include Wells Fargo & Company and Standard Chartered who are equally playing a major role in this segment. The other prominent vendors in the Global MSME Financing market include Access Bank, Bank Muscat, Eastern Bank, IFIC Bank and Emirates NBD Bank.
With increasing competition brewing in the Global MSME Financing market in US and Europe, banks are targeting emerging markets such as China, India, Bangladesh, Thailand, and Nigeria due to the demand for goods and services from these regions. With more than 50 percent of banking revenue in the MSME Financing Market coming from the South East Asia region, the market will grow more than 17 percent CAGR during the forecast period.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts (technavio.com) have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in order of importance.