Non-Bank Firms Captured 19% of Global Banking Market
Corporate lenders face rising competition as non-bank institutions expand their share of global investment banking revenue.
Updated on Oct. 14, 2026 in Financial Services
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Non-bank firms captured 19 percent of the global corporate and investment banking market share in 2026, up from just 4 percent in 2013. Boston Consulting Group projects that total global revenue in the sector will reach $1.12 trillion for 2026.
Why it matters
The shift toward non-bank competitors and private credit financing is forcing traditional banks to pivot from individual product sales to broader client relationship models to defend their market share. Increased reliance on AI-driven efficiency is now a primary defensive strategy for incumbents facing these new market entrants.
Non-bank firms held 19 percent of the global market share in 2026, significantly higher than the 4 percent held in 2013. Global corporate and investment banking revenue is projected at $1.12 trillion for 2026, with an expected expansion to $1.39 trillion by 2030.
The players
Boston Consulting Group
A global management consulting firm that provides strategic research and performance analysis for financial institutions.
UBS
A global universal bank based in Switzerland that operates large-scale investment banking and wealth management divisions.
The details
Non-bank entities are increasingly dominating segments such as trading, where revenue grew by 30 percent in 2026 alone. Rather than direct competition on every loan, traditional banks are adapting by providing financing to private credit funds, which saw 15 percent annual growth between 2022 and 2025. Firms are also targeting a 53 percent cost-income ratio and 21 percent return on tangible equity to remain competitive against leaner, specialized challengers.
Timeline
2013: Non-bank market share was 4 percent.
2022-2025: Private credit fund financing grew 15 percent annually.
2026: Global CIB revenue reached a projected $1.12 trillion.
2030: The global market is projected to reach $1.39 trillion.
Market Landscape
This growth in non-bank participation marks a significant evolution in the post-2008 financial regulatory cycle, where tightened capital requirements for traditional banks allowed private entities to capture market share. The current trend suggests that banks are moving toward a hybrid model of partnership with the very firms that are disrupting their traditional lending businesses.
Operators should evaluate their dependency on traditional banking relationships versus the growing capacity of private credit markets for long-term financing needs. Monitoring the 23 percent market share projection for 2030 will be key for firms determining whether to diversify their lending partnerships.
The takeaway
The sustained rise of non-bank lenders signals that traditional banks are increasingly serving as structural support for private credit rather than exclusive loan originators. Business owners should reassess their cost of capital by comparing traditional bank rates against the current offerings of expanding non-bank credit funds.
Further reading
For more on shifting capital structures and industry trends, visit Financial Services.
Source note: This article includes information reported by Finews.
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