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Letter of Credit Confirmation Market by L/C Type (Sight L/Cs and Usance L/Cs), and End User (Small Enterprises, Medium-sized Enterprises, and Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2020–2027

A06312
Pages: 258
May 2020 | 770 Views
 
Author(s) : Aarti Goswami, Pramod Borasi and Vineet Kumar
Tables: 155
Charts: 70
 

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Letter of Credit Confirmation Market Outlook - 2027

The global letter of credit confirmation market size was valued at $4.30 billion in 2019 and is projected to reach $4.99 billion by 2027, growing at a CAGR of 3.18% from 2020 to 2027. 

A letter of credit is a document that gives protection to the buyers and the sellers during an international trade. It acts an evidence for executing payments& transactions for traded goods and services. Moreover, the letter of credit confirmation services are provided by the confirming banks, which are generally based in the country where the exporters reside. The confirmation on letter of credit is provided by the confirming bank, assuming that the terms & conditions for existing trade are fulfilled from the issuing banks. In addition, the payments are guaranteed by the buyer's bank, which is an issuing bank that further issues a letter of credit on behalf of the importer.

Letter-Of-Credit-Confirmation-Market-2020-2027

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Rise in demand for customized trade finance solutions and regulatory support in growth of strict regulations for secured letter of credit confirmation services are some of major growth factors in the market. In addition, with an increased risk of non-payment between the importers and exporters, the trader largely implementing protection for their trade documents through letter of credit confirmation services. Thus, this is one of the major factors fueling the market growth. However, the online letter of credit confirmation procedures are prone to cyber attacks and frauds such as loss of huge trade amounts and confidential data leakages. This is due to an involvement of several intermediaries between the issuer and beneficiary banks online, thus becoming crucial factors limiting the growth of the letter of credit confirmation market. 

Conversely, increase in business operations and global trading among small & medium enterprises, and large companies are providing lucrative opportunities for confirming banks to expand their business in the letter of credit confirmation services in the market. In addition, advancements in technologies such as distributed ledger technology (DLT) and blockchain are expected to provide lucrative opportunities in terms of creating real-time digitalized letter of credit contract, auto notifications alert over trades, and enhanced business efficiency in the upcoming years. 

Letter of Credit Confirmation Market
By LC Type

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Sight L/Cs are projected as one of the most lucrative segments.

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The large enterprises segment dominated the letter of credit confirmation market in 2019 and is projected to maintain its dominance during the forecast period. The large scale trade among firms from several industries such as healthcare, media & technology companies, power & utilities industries has led to the higher adoption L/C confirmation for facilitating trade activities. However, small enterprises are expected to provide lucrative opportunities for confirming banks & issuing banks in the upcoming years, owing to growing number of small businesses in developing economies. 

Letter of Credit Confirmation Market
By End User

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Large Enterprises is projected as one of the most lucrative segments.

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The report focuses on the growth prospects, restraints, and trends of the letter of credit confirmation market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers in the letter of credit confirmation market.

Segment review

The global letter of credit confirmation market is segmented on the basis of L/C type, end user, and region. In terms of L/C type, it is bifurcated into sight L/Cs and usance L/Cs. Based on end user, the market is segmented into small enterprises, medium-sized enterprises, and large enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The report analyses the profiles of key players operating in the letter of credit confirmation industry such as Bank of America Corporation, Citigroup, Inc., DBS Bank Ltd., JP Morgan Chase & Co., Mizuho Bank, Ltd., MUFG Bank, Scotiabank, Standard Chartered, Sumitomo Mitsui Banking Corporation, and The PNC Financial Services Group, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Top impacting factors

Increased risk of non-payments 

With an increase in global trade, the importers and exporters are largely taking protection measures toward their trade documents in order to avoid risk of payments in the market. Moreover, due to lack of trust issues between an exporter and the issuing bank located in high political or economic uncertainty country, confirmation of letter of credit document is considered secure for trading globally. Therefore, traders are preferring letter of credit confirmation services, which is one of the major factors that boost the letter of credit confirmation market growth.

New technological developments 

Increase in technologies such as blockchain and distributed ledger technology (DLT) is expected to provide lucrative opportunities for the letter of credit confirmation market. With these technological developments, letter of credit confirmation providers can create real-time digitalized letter of credit contract, auto notifications alert over trades, and enhance business efficiency in the market. Moreover, in order to ease traditional &lengthy process of checking trade documents, the traders are expected to implement and adopt letter of credit confirmation services, and this as a result is expected to be lucrative letter of credit market opportunity in the upcoming years.

Untapped potential of emerging economies

Developing economies offer significant opportunities for confirming banks to expand their business by strengthening their product offerings and to support the development of trade operations in the region. Due to emerging economies, increase in small & medium enterprises and rise in large companies scaling their business operations, are resulting in international trades. This provides lucrative opportunities for confirming banks to expand their business in the untapped potential markets in the coming years.

Key benefits for stakeholders 

  • The study provides an in-depth analysis of the global letter of credit confirmation market share along with the current & future trends to elucidate the imminent investment pockets.

  • Information about key drivers, restraints, and opportunities and their impact analysis on letter of credit confirmation market size is provided in the report.

  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.

  • An extensive analysis of the key segments of the industry helps to understand the global letter of credit confirmation market trends.

  • The quantitative analysis of the global letter of credit confirmation market from 2020 to 2027 is provided to determine the market potential.

Key market segments

By L/C Type

  • Sight L/Cs
  • Usance L/Cs

By End User

  • Small Enterprises
  • Medium-sized Enterprises
  • Large Enterprises

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific 
    • Japan
    • China
    • Australia
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Turkey
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Key Market Players

  • Bank of America Corporation    
  • Citigroup, Inc.    
  • DBS Bank Ltd.    
  • JPMorgan Chase & Co     
  • Mizuho Bank, Ltd.    
  • MUFG Bank     
  • Scotiabank    
  • Standard Chartered    
  • Sumitomo Mitsui Banking Corporation    
  • The PNC Financial Services Group, Inc.
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Key market segments
1.5.Research methodology

1.5.1.Secondary research
1.5.2.Primary research
1.5.3.Analyst tools & models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key forces shaping the letter of credit confirmation market
3.3.Methods of payment collection in letter of credit confirmation market

3.3.1.Invoices
3.3.2.Bills of Exchange
3.3.3.Government Documents

3.4.Market dynamics

3.4.1.Drivers

3.4.1.1.Increased risk of non-payment
3.4.1.2.Rise in demand for customized trade services
3.4.1.3.Growth in strict terms and conditions

3.4.2.Restraint

3.4.2.1.Increase in fraud and cyber attacks

3.4.3.Opportunities

3.4.3.1.New technological developments
3.4.3.2.Untapped potential of emerging economies

CHAPTER 4:LETTER OF CREDIT CONFIRMATION MARKET, BY L/C TYPE

4.1.Overview

4.1.1.Market size and forecast
4.1.2.Market volume and forecast

4.2.Sight L/Cs

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market volume and forecast, by region

4.3.Usance L/Cs

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market volume and forecast, by region

CHAPTER 5:LETTER OF CREDIT CONFIRMATION MARKET, BY END USER

5.1.Overview

5.1.1.Market size and forecast, by region
5.1.2.Market volume and forecast, by region

5.2.Small enterprises

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market volume and forecast, by region

5.3.Medium-sized enterprises

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market volume and forecast, by region

5.4.Large enterprises

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market volume and forecast, by region

CHAPTER 6:LETTER OF CREDIT CONFIRMATION MARKET, BY REGION

6.1.Overview

6.1.1.Market size and forecast, by region
6.1.2.Market volume and forecast, by region

6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by L/Cs type
6.2.3.Market volume and forecast, by L/Cs type
6.2.4.Market size and forecast, by end user
6.2.5.Market volume and forecast, by end user
6.2.6.Market revenue analysis, by country
6.2.7.Market volume analysis, by country

6.2.7.1.U.S.

6.2.7.1.1.Market size and forecast, by L/Cs type
6.2.7.1.2.Market volume and forecast, by L/Cs type
6.2.7.1.3.Market size and forecast, by end user
6.2.7.1.4.Market volume and forecast, by end user

6.2.7.2.Canada

6.2.7.2.1.Market size and forecast, by L/Cs type
6.2.7.2.2.Market volume and forecast, by L/Cs type
6.2.7.2.3.Market size and forecast, by end user
6.2.7.2.4.Market volume and forecast, by end user

6.2.7.3.Mexico

6.2.7.3.1.Market size and forecast, by L/Cs type
6.2.7.3.2.Market volume and forecast, by L/Cs type
6.2.7.3.3.Market size and forecast, by end user
6.2.7.3.4.Market volume and forecast, by end user

6.3.Europe

6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by L/Cs type
6.3.3.Market volume and forecast, by L/Cs type
6.3.4.Market size and forecast, by end user
6.3.5.Market volume and forecast, by end user
6.3.6.Market revenue analysis, by country
6.3.7.Market volume analysis, by country

6.3.7.1.Germany

6.3.7.1.1.Market size and forecast, by L/Cs type
6.3.7.1.2.Market volume and forecast, by L/Cs type
6.3.7.1.3.Market size and forecast, by end user
6.3.7.1.4.Market volume and forecast, by end user

6.3.7.2.France

6.3.7.2.1.Market size and forecast, by L/Cs type
6.3.7.2.2.Market volume and forecast, by L/Cs type

6.3.7.2.3.Market size and forecast, by end user
6.3.7.2.4.Market volume and forecast, by end user

6.3.7.3.UK

6.3.7.3.1.Market size and forecast, by L/Cs type
6.3.7.3.2.Market volume and forecast, by L/Cs type
6.3.7.3.3.Market size and forecast, by end user
6.3.7.3.4.Market volume and forecast, by end user

6.3.7.4.Italy

6.3.7.4.1.Market size and forecast, by L/Cs type
6.3.7.4.2.Market volume and forecast, by L/Cs type
6.3.7.4.3.Market size and forecast, by end user
6.3.7.4.4.Market volume and forecast, by end user

6.3.7.5.Spain

6.3.7.5.1.Market size and forecast, by L/Cs type
6.3.7.5.2.Market volume and forecast, by L/Cs type
6.3.7.5.3.Market size and forecast, by end user
6.3.7.5.4.Market volume and forecast, by end user

6.3.7.6.Russia

6.3.7.6.1.Market size and forecast, by L/Cs type
6.3.7.6.2.Market volume and forecast, by L/Cs type
6.3.7.6.3.Market size and forecast, by end user
6.3.7.6.4.Market volume and forecast, by end user

6.3.7.7.Rest of Europe

6.3.7.7.1.Market size and forecast, by L/Cs type
6.3.7.7.2.Market volume and forecast, by L/Cs type
6.3.7.7.3.Market size and forecast, by end user
6.3.7.7.4.Market volume and forecast, by end user

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by L/Cs type
6.4.3.Market volume and forecast, by L/Cs type
6.4.4.Market size and forecast, by end user
6.4.5.Market volume and forecast, by end user
6.4.6.Market revenue analysis, by country
6.4.7.Market volume analysis, by country

6.4.7.1.Japan

6.4.7.1.1.Market size and forecast, by LCs type
6.4.7.1.2.Market volume and forecast, by LCs type
6.4.7.1.3.Market size and forecast, by end user
6.4.7.1.4.Market volume and forecast, by end user

6.4.7.2.China

6.4.7.2.1.Market size and forecast, by LCs type
6.4.7.2.2.Market volume and forecast, by LCs type
6.4.7.2.3.Market size and forecast, by end user
6.4.7.2.4.Market volume and forecast, by end user

6.4.7.3.Australia

6.4.7.3.1.Market size and forecast, by LCs type
6.4.7.3.2.Market volume and forecast, by L/Cs type
6.4.7.3.3.Market size and forecast, by end user
6.4.7.3.4.Market size and volume, by end user

6.4.7.4.India

6.4.7.4.1.Market size and forecast, by L/Cs type
6.4.7.4.2.Market volume and forecast, by L/Cs type
6.4.7.4.3.Market size and forecast, by end user
6.4.7.4.4.Market size and volume, by end user

6.4.7.5.South Korea

6.4.7.5.1.Market size and forecast, by L/Cs type
6.4.7.5.2.Market volume and forecast, by L/Cs type
6.4.7.5.3.Market size and forecast, by end user
6.4.7.5.4.Market size and volume, by end user

6.4.7.6.Rest of Asia-Pacific

6.4.7.6.1.Market size and forecast, by L/Cs type
6.4.7.6.2.Market volume and forecast, by L/Cs type
6.4.7.6.3.Market size and forecast, by end user
6.4.7.6.4.Market volume and forecast, by end user

6.5.LAMEA

6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast, by L/Cs type
6.5.3.Market volume and forecast, by L/Cs type
6.5.4.Market size and forecast, by end user
6.5.5.Market volume and forecast, by end user
6.5.6.Market revenue analysis, by country
6.5.7.Market volume analysis, by country

6.5.7.1.Brazil

6.5.7.1.1.Market size and forecast, by L/Cs type
6.5.7.1.2.Market volume and forecast, by L/Cs type
6.5.7.1.3.Market size and forecast, by end user
6.5.7.1.4.Market volume and forecast, by end user

6.5.7.2.Turkey

6.5.7.2.1.Market size and forecast, by L/Cs type
6.5.7.2.2.Market volume and forecast, by L/Cs type
6.5.7.2.3.Market size and forecast, by end user
6.5.7.2.4.Market volume and forecast, by end user

6.5.7.3.Saudi Arabia

6.5.7.3.1.Market size and forecast, by L/Cs type
6.5.7.3.2.Market volume and forecast, by L/Cs type
6.5.7.3.3.Market size and forecast, by end user
6.5.7.3.4.Market volume and forecast, by end user

6.5.7.4.South Africa

6.5.7.4.1.Market size and forecast, by L/Cs type
6.5.7.4.2.Market volume and forecast, by L/Cs type
6.5.7.4.3.Market size and forecast, by end user
6.5.7.4.4.Market volume and forecast, by end user

6.5.7.5.Rest of LAMEA

6.5.7.5.1.Market size and forecast, by L/Cs type
6.5.7.5.2.Market volume and forecast, by L/Cs type
6.5.7.5.3.Market size and forecast, by end user
6.5.7.5.4.Market volume and forecast, by end user

CHAPTER 7:COMPANY PROFILES

7.1.Bank of America Corporation

7.1.1.Company overview
7.1.2.Key Executives
7.1.3.Company snapshot
7.1.4.Product portfolio
7.1.5.Business performance

7.2.Citigroup, Inc.

7.2.1.Company overview
7.2.2.Key Executives
7.2.3.Company snapshot
7.2.4.Operating business segments
7.2.5.Product portfolio
7.2.6.Business performance

7.3.DBS Bank Ltd.

7.3.1.Company overview
7.3.2.Key Executives
7.3.3.Company snapshot
7.3.4.Product portfolio
7.3.5.Business performance

7.4.JPMorgan Chase & Co.

7.4.1.Company overview
7.4.2.Key Executives
7.4.3.Company snapshot
7.4.4.Product portfolio
7.4.5.Business performance

7.5.Mizuho Bank, Ltd.

7.5.1.Company overview
7.5.2.Key Executives
7.5.3.Company snapshot
7.5.4.Product portfolio
7.5.6.Business performance

7.6.MUFG Bank, Ltd.

7.6.1.Company overview
7.6.2.Key Executives
7.6.3.Company snapshot
7.6.4.Product portfolio

7.7.Scotiabank

7.7.1.Company overview
7.7.2.Key Executives
7.7.3.Company snapshot
7.7.4.Product portfolio
7.7.5.Operating business segments
7.7.6.Business performance

7.8.Standard Chartered

7.8.1.Company overview
7.8.2.Key Executives
7.8.3.Company snapshot
7.8.4.Product portfolio
7.8.5.Operating business segments
7.8.6.Business performance

7.9.Sumitomo Mitsui Banking Corporation

7.9.1.Company overview
7.9.2.Key Executives
7.9.3.Company snapshot
7.9.4.Product portfolio

7.10.The PNC Financial Services Group, Inc.

7.10.1.Company overview
7.10.2.Key Executives
7.10.3.Company snapshot
7.10.4.Product portfolio
7.10.5.Business performance

LIST OF TABLES

TABLE 01.LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 02.LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 03.LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR SIGHT L/C, BY REGION, 2019–2027 ($MILLION)
TABLE 04.LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR SIGHT L/C, BY REGION, 2019–2027 ($MILLION)
TABLE 05.LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR USANCE L/C, BY REGION, 2019–2027 ($MILLION)
TABLE 06.LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR USANCE L/C, BY REGION, 2019–2027 ($MILLION)
TABLE 07.LETTER OF CREDIT CONFIRMATION VOLUME REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 08.LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 09.LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR SMALL ENTERPRISES, BY REGION, 2019–2027 ($MILLION)
TABLE 10.LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR SMALL ENTERPRISES, BY REGION, 2019–2027 ($MILLION)
TABLE 11.LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR MEDIUM-SIZED ENTERPRISES, BY REGION, 2019–2027 ($MILLION)
TABLE 12.LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR MEDIUM-SIZED BUSINESSES, BY REGION, 2019–2027 ($MILLION)
TABLE 13.LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR LARGE ENTERPRISES, BY REGION, 2019–2027 ($MILLION)
TABLE 14.LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR MEDIUM-SIZED BUSINESSES, BY REGION, 2019–2027 ($MILLION)
TABLE 15.LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY REGION, 2019–2027 ($MILLION)
TABLE 16.LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY REGION, 2019–2027 ($MILLION)
TABLE 17.NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 18.NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 19.NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 20.NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 21.NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 22.NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 23.U.S. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 24.U.S. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 25.U.S. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 26.U.S. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 27.CANADA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 28.CANADA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 29.CANADA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 30.CANADA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 31.MEXICO LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 32.MEXICO LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 33.MEXICO LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 34.MEXICO LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 35.EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 36.EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 37.EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 38.EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 39.EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 40.EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 41.GERMANY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 42.GERMANY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 43.GERMANY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 44.GERMANY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 45.FRANCE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 46.FRANCE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 47.FRANCE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 48.FRANCE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 49.UK LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 50.UK LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 51.UK LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 52.UK LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 53.ITALY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 54.ITALY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 55.ITALY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 56.ITALY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 57.SPAIN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 58.SPAIN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 59.SPAIN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 60.SPAIN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 61.RUSSIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 62.RUSSIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 63.RUSSIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 64.RUSSIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 65.REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 66.REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 67.REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 68.REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 69.ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 70.ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 71.ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 72.ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 73.ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 74.ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 75.JAPAN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 76.JAPAN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 77.JAPAN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 78.JAPAN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 79.CHINA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 80.CHINA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 81.CHINA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 82.CHINA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 83.AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 84.AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 85.AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 86.AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 87.INDIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 88.INDIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 89.INDIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 90.INDIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 91.SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 92.SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 93.SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 94.SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 95.REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 96.REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 97.REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 98.REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 99.LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 100.LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 101.LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 102.LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 103.LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 104.LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 105.BRAZIL LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 106.BRAZIL LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 107.BRAZIL LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 108.BRAZIL LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 109.TURKEY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 110.TURKEY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 111.TURKEY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 112.TURKEY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 113.SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 114.SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 115.SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 116.SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 117.SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 118.SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 119.SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 120.SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 121.REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 122.REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2019–2027 ($MILLION)
TABLE 123.REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019–2027 ($MILLION)
TABLE 124.REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2019–2027 ($MILLION)
TABLE 125.BANK OF AMERICA CORPORATION: KEY EXECUTIVES
TABLE 126.BANK OF AMERICA CORPORATION: COMPANY SNAPSHOT
TABLE 127.BANK OF AMERICA CORPORATION: PRODUCT PORTFOLIO
TABLE 128.CITIGROUP, INC.: KEY EXECUTIVES
TABLE 129.CITIGROUP, INC.: COMPANY SNAPSHOT
TABLE 130.CITIGROUP, INC.: OPERATING SEGMENTS
TABLE 131.CITIGROUP, INC.: PRODUCT PORTFOLIO
TABLE 132.DBS BANK LTD.: KEY EXECUTIVES
TABLE 133.DBS BANK LTD.: COMPANY SNAPSHOT
TABLE 134.DBS BANK LTD: PRODUCT PORTFOLIO
TABLE 135.JPMORGAN CHASE & CO.: KEY EXECUTIVES
TABLE 136.JPMORGAN CHASE & CO.: COMPANY SNAPSHOT
TABLE 137.JPMORGAN CHASE & CO.: PRODUCT PORTFOLIO
TABLE 138.MIZUHO BANK, LTD.: KEY EXECUTIVES
TABLE 139.MIZUHO BANK, LTD.: COMPANY SNAPSHOT
TABLE 140.MIZUHO BANK, LTD.: PRODUCT PORTFOLIO
TABLE 141.MUFG BANK, LTD.: KEY EXECUTIVES
TABLE 142.MUFG BANK, LTD.: COMPANY SNAPSHOT
TABLE 143.MUFG BANK, LTD.: PRODUCT PORTFOLIO
TABLE 144.SCOTIABANK: KEY EXECUTIVES
TABLE 145.SCOTIABANK: COMPANY SNAPSHOT
TABLE 146.SCOTIABANK: PRODUCT PORTFOLIO
TABLE 147.SCOTIABANK: OPERATING SEGMENTS
TABLE 148.STANDARD CHARTERED: KEY EXECUTIVES
TABLE 149.STANDARD CHARTERED: COMPANY SNAPSHOT
TABLE 150.STANDARD CHARTERED: PRODUCT PORTFOLIO
TABLE 151.STANDARD CHARTERED: OPERATING SEGMENTS
TABLE 152.SUMITOMO MITSUI BANKING CORPORATION: KEY EXECUTIVES
TABLE 153.SUMITOMO MITSUI BANKING CORPORATION: COMPANY SNAPSHOT
TABLE 154.SUMITOMO MITSUI BANKING CORPORATION: PRODUCT PORTFOLIO
TABLE 155.THE PNC FINANCIAL SERVICES GROUP, INC.: KEY EXECUTIVES
TABLE 156.THE PNC FINANCIAL SERVICES GROUP, INC.: COMPANY SNAPSHOT
TABLE 157.THE PNC FINANCIAL SERVICES GROUP, INC.: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019–2027
FIGURE 03.LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY REGION, 2019–2027
FIGURE 04.LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019–2027
FIGURE 05.LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY REGION, 2019–2027
FIGURE 06.TOP IMPACTING FACTORS
FIGURE 07.LOW BARGAINING POWER OF SUPPLIERS
FIGURE 08.HIGH BARGAINING POWER OF BUYER
FIGURE 09.MODERATE THREAT OF SUBSTITUTES
FIGURE 10.MODERATE THREAT OF NEW ENTRANTS
FIGURE 11.HIGH COMPETITIVE RIVALRY
FIGURE 12.LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2019-2027
FIGURE 13.LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2019-2027
FIGURE 14.U.S. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 15.U.S. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 16.CANADA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 17.CANADA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 18.MEXICO LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 19.MEXICO LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 20.GERMANY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 21.GERMANY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 22.FRANCE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 23.FRANCE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 24.UK LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 25.UK LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 26.ITALY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 27.ITALY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 28.SPAIN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 29.SPAIN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 30.RUSSIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 31.RUSSIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 32.REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 33.REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 34.JAPAN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 35.JAPAN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 36.CHINA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 37.CHINA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 38.AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 39.AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 40.INDIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 41.INDIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 42.SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 43.SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 44.REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 45.REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 46.BRAZIL LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 47.BRAZIL LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 48.TURKEY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 49.TURKEY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 50.SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 51.SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 52.SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 53.SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 54.REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2019-2027 ($MILLION)
FIGURE 55.REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2019-2027 ($MILLION)
FIGURE 56.BANK OF AMERICA CORPORATION: NET SALES, 2017–2019 ($MILLION)
FIGURE 57.BANK OF AMERICA CORPORATION: REVENUE SHARE BY COUNTRIES (2019)
FIGURE 58.CITIGROUP, INC.: NET SALES, 2017–2019 ($MILLION)
FIGURE 59.CITIGROUP, INC.: REVENUE SHARE BY SEGMENT (2019)
FIGURE 60.CITIGROUP, INC.: REVENUE SHARE BY REGION (2019)
FIGURE 61.DBS BANK LTD.: NET SALES, 2017–2019 ($MILLION)
FIGURE 62.JPMORGAN CHASE & CO.: NET SALES, 2017–2019 ($MILLION)
FIGURE 63.JPMORGAN CHASE & CO.: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 64.MIZUHO BANK, LTD.: GROSS PROFIT, 2016–2018 ($MILLION)
FIGURE 65.SCOTIABANK: NET SALES, 2017–2019 ($MILLION)
FIGURE 66.SCOTIABANK: REVENUE SHARE BY SEGMENT (2019)
FIGURE 67.STANDARD CHARTERED: NET SALES, 2017–2019 ($MILLION)
FIGURE 68.STANDARD CHARTERED: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 69.STANDARD CHARTERED: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 70.THE PNC FINANCIAL SERVICES GROUP, INC.: NET SALES, 2017–2019 ($MILLION)

 
 

Letter of credit confirmation services are growing at a rapid pace globally. With an increase in trade services, importers and exporters are preferring letter of credit offerings at a large scale. Moreover, confirming banks are providing letter of credit services such as negotiation & advising solutions, confirmation of letter of credit, export financing, supply chain finance, and others. However, this scenario is changing and the year 2019 has witnessed an increase in sale of letter of credit confirmation services, due to an increased risk of non-payment and rise in demand for customized letter of credit services in the market. Consequently, the exporters & importers have been increasing their business operations globally, this as a result providing lucrative opportunities for confirming banks to accelerate letter of credit offerings in the market. 

The letter of credit confirmation market is fragmented with the presence of key vendors and regional vendors, such as Bank of America Corporation, Citigroup, Inc., and DBS Bank Ltd. Asia-Pacific and Europe dominated the letter of credit confirmation market in terms of revenue in 2019 and is expected to retain dominant throughout the forecast period. However, LAMEA is expected to experience significant growth in the near future, owing to emerging GCC economies and changing regulatory environment in the region, traders are expanding their businesses, thereby becoming major growth factors for the letter of credit confirmation market. Some of the key players profiled in the report include JP Morgan Chase & Co., Mizuho Bank, Ltd., MUFG Bank, Scotiabank, Standard Chartered, Sumitomo Mitsui Banking Corporation, and The PNC Financial Services Group, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
 

 

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