The Middle East, one of the world's fastest growing banking markets, has been witnessing banks and financial institutions across the region making huge investments in various financial products and services to match or outshine their international peers. According to a new research report by RNCOS, the commercial banks, which operate in competitive environment that includes less government intervention and low market concentration, are likely to be more efficient in coming years. With such developments, the Middle East banking assets are expected to grow at a CAGR of around 16% during 2011-2014.
Research Analysis & Highlights
The report, “Middle East Banking Sector Analysis”, is spread over 130 pages and provides extensive research and exhaustive analysis on the banking sector in each Middle East country and their products and services. Activities of prominent market players and regulatory developments in each country have been discussed in detail in the research study. These will help clients understand and analyze the factors critical to the success of the banking industry in the Middle East countries. Detailed information and its analysis will also assist investors, financial service providers, and global banking players in designing appropriate strategies as per market dynamics.
Some of the key findings of the report are:
- In 2011, Saudi Arabia stood at the top in the ME region with banking assets worth US$ 850.5 Billion.
- The Middle East is one of the largest Islamic banking markets in the world.
- Turkish banks have witnessed rapid growth in both lending and deposits.
- Credit cards are rapidly emerging as a major mode of payment in the region.
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