From the Piggy Bank to the Online Account Saving and Product Usage in Central and Eastern Europe

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From the Piggy Bank to the On-line
AccountSaving and Product Usage in Central and
Eastern Europe
Press conference BA-CA and GfK2 September 2004
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Project description

• Project A GfK project supported by Bank Austria
  Creditanstalt
• Method Direct survey, 1,000 representative
  interviews per country
• Countries Bosnia Herzegovina, Bulgaria,
  Croatia, Czech Republic, Hungary, Poland,
  Romania, Serbia Montenegro, Slovakia,
  Slovenia, Russia, Ukraine, Austria, Germany

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Share of banked population of the population
above the age of 15 who are clients of a bank
average new EU members
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Account penetration of the population above the
age of 15 who have an account with a bank
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Bank cards penetration of the population above
the age of 15 who own a bank card (ATM, credit
card, ...).
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Loans penetration of the population above the
age of 15 who use a loan
UKR
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Saving products penetration of the population
above the age of 15 who use a savings/investment
vehicle (passbook, term deposits, securities,..)
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Saving goals of top 5 mentions
SI H CZ SK PL BG
RO HR SCG RUS UKR
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The 6 most attractive saving investment
opportunitiesApart from how you are currently
saving or investing which of these options of
saving or investing do you currently regard as
particularly attractive? ()
SI H CZ SK PL BG
RO SCG HR RUS UKR A D
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Interest in securitiesApart from how you are
currently saving or investing which of these
saving or investment options do you currently
regard as particularly attractive? ()
SI H CZ SK PL BG
RO SCG HR RUS UKR A D
0values up to 0.5 / no mention
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Electronic / Internet Banking of the
population above the age of 15 who use electronic
or Internet banking
SK
H
UKR
SI
CZ
HR
PL
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Summary

• In the long-term trend, the share of the
  population with a bank relationship has remained
  relatively stable.
• Establishing business relations with credit
  institutes has not yet become standard practice
  in each country.
• Strong backlog potential is identifiable,
  however, particularly among individuals in
  gainful employment aged between 20 and 50.
• The reasons for savings are primarily household
  improvements, holidays, and financial assistance
  for family members.
• Interest in individual saving and investment
  options varies considerably
• upper level investment products (shares of
  stock and funds, life insurance) meet with more
  interest in the new EU countries than in the
  other CEE countries.
• In the remaining CEE countries, classical
  investment products (savings passbook, saving at
  home) play a major role.
• Interest in traditional securities is generally
  still low, except in Slovenia, but substantial
  potential may be expected.