Irish Deposits: Retail Deposit Market Survey - Finance One
Transcript of Irish Deposits: Retail Deposit Market Survey - Finance One
2.
What we did and why…
What?
Who?
Face-to-Face interviews in the home
7th November - 23rd November 2012
Nationally representative sample
of all adults aged 25+ (n=850)
To gain consumer insight
into the deposit market
When?
3.
Just over half have a deposit/savings account
Q.1 Which, if any, of these do you have, personally or jointly with someone else?
84
52
40
30
30
17
4
9
9
%
Current Account
Deposit / saving account
Credit card
Life assurance
Mortgage / home loan
Personal pension / plan
(not state pension)
Stocks and shares
Other personal loans
None of these
Base: All 25+ (n=850)
4.
Base: Ask All 25+ (n=850)
Q.5 Please tell me if you think this is true or false.
44%
16%
40%
Total
(n=850)
There are two separate Irish Government guarantee schemes – one for
deposits under €100,000 and a separate one for deposits over €100,000
Nearly half have no idea of the Government Guarantee
Schemes - education is required
True
Don’t
know
False
HIGHER AMONG:
- WHITE COLLAR
- LONGER TERM
SAVERS (2+YRS)
- HIGHER
GUARANTEE
INDIVIDUALS
HIGHER
AMONG:
FEMALES
LOWER SEG
5.
Base: Ask All 25+ (n=850)
Standard Guarantee dominates relevance
Q.6 In fact, there are two separate Irish Government guarantee schemes – one for under €100,000
and another for over €100,000. Which one of these guarantee schemes is most relevant to you?
Total
(n=850)
%
Under €100,000
Over €100,000
Don’t Know
Refused
58
7
23
11
MALES
AGED 65+
WHITE COLLAR
6.
Base: All Aged 25+ (n=850)
Q.10 Bank Credit Ratings range from AAA to C. Do you know what your main bank’s credit rating is?
Only 1 in 6 claim to know their bank’s credit rating
HIGHER GUARANTEE
INDIVIDUALS
LONGER SAVERS (2+ YRS)
WHITE COLLAR
22%
60%
17%
Total
Yes
Don’t
know
No
7.
20
18
14
10
8
5
4
1
7
18
Base: All With Deposit/Savings Account (n=430)
AIB underperforming versus historical position?
Q.2 If you were to choose to put deposits or savings with a bank other than one you have an account
with, which bank would you choose?
HIGHER GUARANTEE
INDIVIDUALS SLIGHLY MORE
LIKELY TO CONSIDER AIB AND
ULSTER BANK
%
/State Savings
KBC/Rabobank/Investec/
De Danske/NIB
Other
None/Would not go to another
8.
65
38
35
35
32
20
16
16
15
4
4
Total
%
Any Trust
Trust them*
Better interest rates
Been around a long time
Safe(r) bank*
Better guarantees on deposits*
Better credit rating
Irish bank
Good range of deposit / savings offers
Non-Irish bank
Other
Base: All Would Choose Other Bank for Savings (n=330)
Trust, trust and more trust!
Q.3 Why would you choose [enter code from Q2] to put deposits or savings?- (Spontaneous Mention)
MORE LIKELY TO
MENTIONED BY
THOSE WHO
CONSIDER
FOREIGN OWNED
BANKS
HIGHER
GUARANTEE
INDIVIDUALS
9.
77
58
56
45
36
35
31
29
4
%
Any Security
Security of that bank / institution*
Interest rate / return
Have an account /
relationship with that bank/
Irish bank / institution
Government guarantee on deposits*
Online access
Bank / institution’s credit rating
Non-Irish bank / institution
Base: All Would Choose Other Bank for Savings (n=430)
When prompted, trust still wins out
Q.4 Thinking of where to put deposits or savings, which three of the following are most important to
you?
10.
8
6 5
4
8
23
14
12
6 2
11
2 3
6
20
20 20
7
0
5
10
15
20
25
Overnight Several days/a week
1 month 3 months 6 months 1 year 2-3 years 4-5 years Longer
A KEY CONSUMER
TIME POINT
WHITE COLLAR
PREFERRED
PERIOD
Savvy investors claim to be prepared to
wait for better returns
Q.7 What is the longest period of time you would agree to put your deposits / savings in a bank for?
By that I mean you could not take out your money for that time.
Total
Sample (n=850)
Higher guarantee
individuals (n=61)
Don’t know = 15%
TIME
%
Base: All Aged 25+ (n=850)
11.
Base: Ask Savings/Deposits Holders (n=430)
Q.8 Would you consider changing your euro (€) savings / deposits into another currency (like Pound
Sterling or US dollars) to get out of EURO?
1 in 5 would consider a move to another currency
13% 65%
22%
%
Yes
Don’t
know
No
- MALES
- WHITE COLLAR
- LONGER TERM
SAVERS (2+YRS)
- HIGHER GUARANTEE
INDIVIDUALS
12.
Base: All Savings/Deposit Holders (n=430)
Awareness of inherent risk differs between groups
Q.9 How risky or not do you think it would be to change euro deposits into another currency?
Significantly Different /
19
5
23
29
15
32
21
37
17
11 32 6
19 12
21
Total
(n=430)
%
Very risky
Consider
Changing
(n=94)
%
Not Consider
Changing
(n=336)
%
Fairly risky
Not very risky
Not at all risky
Don’ Know
48%
33%
20%
65%
55%
23%
OVER 50S
Changing Euro deposits
into another currency
MALES
WHITE COLLAR
13.
Base: All Aged 25+ (n=850)
Q.12 Do you believe that the Euro will survive the next 5-10 years with all the current euro countries
still in it, or not?
Only 1 in 2 believe the Euro will survive
over the next 5-10 years
OPTIMISTS: 50-64’S, WHITE COLLAR
AND HIGH GUARANTEE INDIVIDUALS
Yes
No
Don’t know 17%
Survival 53%
30%
PESSIMISTS: 35-49’S
VIEWS POLARISED ON THE
SURVIVAL OF THE EURO
14.
Base: Ask All Aged 25+ (n=850)
Investors want certainty in a time of Chaos
Q.11 Which, if any, of the following would you consider purchasing in the next four years?
* Definitions provided in Appendix
74
12
11
5
5
2
Total
(n=850)
%
None of these
Government Bond*
Guaranteed Investment Bond*
Tracker Bond*
Property Fund*
Equity Fund*
LOWER SEG
15.
Key Findings
• Ireland is in a state of ‘Chassis’ and what people are
looking for is a safe haven for their money
• Despite uncertainty, savvy investors are more likely to
take a more considered risk to get a higher return
• The key for institutions is to collaborate their offers
and have a clear set of products for higher net worth
individuals
18. 41112075 LD/EH
For more information and a breakdown
of results please contact:
[email protected]/01 647 1200