About the market:

This report discusses the impact of recent banking reforms on the market and provides analysis of current account ownership, ownership trends between 2000 and 2004, account activity and usage of direct banking channels. The competitive structure of the market is also subject to discussion, outlining the product strategies of the leading players and those seeking to capture market share.

Based on consumer data detailing ownership of current accounts, Mintel estimates that RoI consumers collectively owned around 3.4 million current accounts in 2004. In NI, this figure was around 1.4 million. Growth between 2000 and 2004 was impressive, with the number of current accounts growing by 37% in RoI and 20% in NI in this period. Growth can be attributed partly to population increases in the period in RoI and NI, but the main contributor to growth was the increased penetration of the various account types in RoI and NI between 2000 and 2004.

About Mintel’s research:

Fusing together the most innovative consumer research and latest market analysis, Mintel's new report offers you the insight and inspiration you need for designing clever, creative and profitable marketing strategies in the Irish current account market. Use Mintel's research to:

Understand the major market trends and drivers

Discover what consumers think about all-inclusive holidays and tailor your offering accordingly

Measure consumer uptake of current accounts

Spot new targeting opportunities and identify which consumers are most likely own a current account

Pin point market potential, before your competitors

Learn about the major providers, their market share and assess the potential for new entrants in the market

Measure market sizes and forecasts and build realistic business models.

Intriguing findings include:

Over a quarter of RoI consumers owned just one account in 2004, with almost equal numbers (25%) owning two accounts or three or more (23%) accounts.

Over 70% of RoI consumers owned a current account in 2004, an 11% increase on ownership in 2000.

Almost 50% of students in RoI and NI did not have a current account in 2004.