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Australia Private Banking Market

Australia Private Banking Market Size, Analysis, Forecast: By Type: Insurance Service, Tax Consulting, Asset Management Service, Real Estate Consulting, Trust Service; By Application: Enterprise, Personal; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Others; Competitive Landscape; 2024-2032

Australia Private Banking Market Outlook 

The Australia private banking market size is projected to grow at a CAGR of 5.04% between 2024 and 2032.

 

Key Takeaways

  • As per the Australia Prudential Regulation Authority, the general insurance industry posted a net profit after tax of $4.6 billion and a return on net assets of 14.2% for the financial year ending on 30 June 2023.
  • As reported by the Australian Bureau of Statistics, the total managed funds industry increased by $176.6 billion (3.9%) to reach $4,751.5 billion in funds under management during the December 2023 quarter.
  • As per the Australian Bureau of Statistics, in December 2023, the consolidated assets of managed funds institutions increased by $152.1 billion (4.1%) to $3,883.7 billion while unconsolidated assets increased by $176.6 billion (4.1%) to $4,451.9 billion.

 

Insurance services drive the Australia private banking market growth by aiding in the mitigation of financial risks for clients and their assets

Insurance offerings in private banking diminish financial risks and protect assets and wealth from unforeseen situations, aiding in estate planning with customized solutions that encourage asset growth and investment opportunities.

 

Tax consultancy in private banking optimizes tax structures for efficiency, guaranteeing compliance with regulations to lessen penalties. It preserves wealth for succeeding generations, offering strategic advice and tailored plans for clients' financial aspirations and circumstances.

 

Moreover, the private banking sector has been integrating technology to improve its offerings and speed of delivery. Volans, a new private bank is set to debut in Australia with the aim to revolutionize banking for high-net-worth clients by integrating advanced AI technology. The bank is scheduled to launch in 2024.

 

Australia Private Banking Market

 

Market Segmentation

Australia Private Banking Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Type

  • Insurance Service
  • Tax Consulting
  • Asset Management Service
  • Real Estate Consulting
  • Trust Service

 

Market Breakup by Application

  • Enterprise
  • Personal

 

Market Breakup by Region

  • New South Wales
  • Victoria
  • Queensland
  • Australian Capital Territory
  • Western Australia
  • Others

 

The Australia private banking market key players are J.P. Morgan Securities Australia Limited, Auswide Bank Ltd, Macquarie Group Limited, UBS Asset Management (Australia) Ltd, and Nexia Australia Pty Ltd among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Insurance Service
  • Tax Consulting
  • Asset Management Service
  • Real Estate Consulting
  • Trust Service
Breakup by Application
  • Enterprise
  • Personal
Breakup by Region
  • New South Wales
  • Victoria
  • Queensland
  • Australian Capital Territory
  • Western Australia
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • J.P. Morgan Securities Australia Limited
  • Auswide Bank Ltd
  • Macquarie Group Limited
  • UBS Asset Management (Australia) Ltd
  • Nexia Australia Pty Ltd
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    Australia Private Banking Market Overview

    8.1    Key Industry Highlights
    8.2    Australia Private Banking Historical Market (2018-2023) 
    8.3    Australia Private Banking Market Forecast (2024-2032)
9    Australia Private Banking Market by Type​​​​​​​
    9.1    Insurance Service
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Tax Consulting
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
    9.3    Asset Management Service
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    Real Estate Consulting
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
    9.5    Trust Service
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
10    Australia Private Banking Market by Application​​​​​​​
    10.1    Enterprise 
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Personal
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
11    Australia Private Banking Market by Region​​​​​​​
    11.1    New South Wales
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Victoria
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    Queensland
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    Australian Capital Territory
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Western Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Market Dynamics​​​​​​​
    12.1    SWOT Analysis
        12.1.1    Strengths
        12.1.2    Weaknesses
        12.1.3    Opportunities
        12.1.4    Threats
    12.2    Porter’s Five Forces Analysis
        12.2.1    Supplier’s Power
        12.2.2    Buyer’s Power
        12.2.3    Threat of New Entrants
        12.2.4    Degree of Rivalry
        12.2.5    Threat of Substitutes
    12.3    Key Indicators for Demand
    12.4    Key Indicators for Price
13    Competitive Landscape​​​​​​​
    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    J.P. Morgan Securities Australia Limited 
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Auswide Bank Ltd  
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Macquarie Group Limited  
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    UBS Asset Management (Australia) Ltd  
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Nexia Australia Pty Ltd 
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Others
14    Key Trends and Developments in the Market​​​​​​​

 

List of Key Figures and Tables

1.    Australia Private Banking Market: Key Industry Highlights, 2018 and 2032
2.    Australia Private Banking Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Australia Private Banking Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Australia Private Banking Historical Market: Breakup by Application (USD Million), 2018-2023
5.    Australia Private Banking Market Forecast: Breakup by Application (USD Million), 2024-2032
6.    Australia Private Banking Historical Market: Breakup by Region (USD Million), 2018-2023
7.    Australia Private Banking Market Forecast: Breakup by Region (USD Million), 2024-2032
8.    Australia Private Banking Market Structure

Key Questions Answered in the Report

The market is projected to grow at a CAGR of 5.04% between 2024 and 2032.

The private banking market is categorised according to the type, which includes insurance service, tax consulting, asset management service, real estate consulting and trust service.

The key players are J.P. Morgan Securities Australia Limited, Auswide Bank Ltd, Macquarie Group Limited, UBS Asset Management (Australia) Ltd, and Nexia Australia Pty Ltd among others.

Based on the private banking application, the market is divided into enterprise and personal.

The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.

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