Tuesday 29 July 2014

GCC retail banking focus for briefings

Dubai, March 5, 2013

EFMA, a leading non-profit retail banking association, and consultancy Oliver Wyman have organised senior briefings with banking executives in Dubai and Doha to discuss the opportunities and threats for retail banks in the GCC.

The briefings will also discuss the revenue growth potential of the region, the institutional requirements for realizing it and the strategic imperatives for the GCC banks, in both their domestic and foreign markets.

The briefing is set to take place on March 17 in the offices of Emirates NBD in Dubai, while the Doha briefing is scheduled for March 19 at La Cigale Hotel.

Oliver Wyman models see banking revenues in the region quadrupling over the next 20 years, ahead of growth in developed markets.

Greg Rung, partner in Oliver Wyman’s Retail & Business Banking Practice will provide an overview of the revenue growth potential of the region, the institutional requirements for realizing it, and the strategic imperatives for GCC banks, in both their domestic and foreign markets.

Differences in future growth rates mean that the picture of global banking will fundamentally change soon, with emerging markets contributing as much banking revenue as developed markets.

Oliver Wyman sees developed markets’ share of global banking revenues falling from 77 per cent in 2010 to 55 per cent by 2030.

The GCC has entered a critical growth phase, and retail banking will be the largest part of revenue growth in the region. As the economy grows, both consumers and small businesses become credit-worthy, and retail lending begins to take off. Some parts of the retail business remain underdeveloped, however, such as mortgages and business banking in Saudi Arabia.

“In order for this growth to happen, there is the need for certain enablers,” said Greg Rung, author of the research and host of the Dubai and Doha meetings. “A good infrastructure, free competition, efficient legal processes and regulation and political stability are necessary for the retail banking sector to develop with no hiccups.

Michael Pearson, a strategy and corporate development expert and author of the Efma report “Innovation in Retail Banking” will add to the debate by discussing innovations in retail banking worldwide. – TradeArabia News Service

Tags: Dubai | GCC | Doha | Retail banking | Oliver Wyman | Briefing |

More Finance & Capital Market Stories

calendarCalendar of Events


Buy high quality China wholesale Health & Beauty , Electronics, Sports & Outdoors , Computers, Video Games, Toys & Hobbies Cell Phones, Automobiles and other wholesale products directly from reliable Chinese wholesalers or Factories on DHgate.com