Non-banks continue to eat into banks’ market share
Non-banks continued to take market share from banks in 2019, with some of the riskiest segments of the market showing the fastest growth.
The non-bank financial intermediation (NBFI) sector expanded its market share to 49.5% of the global financial system in 2019, up from 42% in 2008, the Financial Stability Board’s latest monitoring report shows. The sector – which includes pension funds, insurers and ‘collective investment vehicles’ – has already claimed more than half of cross-border lending
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