Retail Banking Country Snapshot: UAE 2016

Published: December 2016
No. of Pages: 46
    ReportsandReports

Summary

The UAE is overbanked with around 49 players, making it a fragmented and highly competitive market. Penetration is high and consumers are well informed and sophisticated, but the large number of expats in the UAE (over 90% of the population) creates unique requirements. Reputation is key, and customers favor established providers and traditional structures. Although online channels are gaining ground, awareness of fintech and peer to peer (P2P) providers remains low, and partnerships with existing banks are the best way of breaking into the market.

Key Findings

  • State-owned banks dominate the retail sector, with Emirates NBD accounting for almost a quarter of accounts, while international banks have made limited headway. Ethical values, reputation, and convenience are important, but 64% of customers prefer a local brand.
  • Recommendations and convenience of branch location are the top drivers of choice of savings provider, while rates are also key due to the competitive nature of the sector. Property purchase is the most popular reason for saving, and branch enquiries are still preferred over online applications.
  • The mortgage sector is highly competitive and banks struggle to achieve significant market share. Incentives are important to attract customers, but ease of use and online presence are also vital. Banks like RAKBANK are benefiting from investment in digital solutions.

Synopsis

Verdict Financial's "Retail Banking Country Snapshot: UAE 2016" reviews the retail banking sector in the UAE, with a particular focus on the current account, savings, mortgage, and personal loans markets. It includes both market-level data and insight from our global Retail Banking Insight Survey.

The report offers insight into:

  • How consumers in the UAE take out and use their financial products, and how this has changed in recent years.
  • Which providers dominate the current account, savings, mortgage, and loan markets, and what factors persuaded their customers to choose them.
  • The extent to which consumers are using online and mobile channels to research, take out, and use their financial products.

Reasons To Buy

  • Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting the UAE's retail banking sector.
  • Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.
  • Learn about the impact new entrants and distribution channels will have on the market.

Companies Mentioned

  • Abu Dhabi Commercial Bank
  • Abu Dhabi Islamic Bank
  • Dubai Islamic Bank
  • Emirates NBD
  • HSBC
  • National Bank of Abu Dhabi
  • RAKBANK

Published By: GlobalData
Product Code: Verdict461


Did you find what you are/were looking for ? If not, read below and browse through other relevant pages for similar market research reports OR get in touch with us through the form/contact info in your right navigation panel and well share relevant market report titles for you to explore.

Related Reports:


Why ReportsnReports.com?

  • 500,000 market research reports and growing.
  • Top Fortune 500 Organizations trust us for research data.
  • 24/7 support on call as well as emails.
  • Your Details are safe with us.
  • Free support for your research requirements.
  • Report Delivery: Email
  • Delivery Time:
    • Upto 24 hrs - working days
    • Upto 48 hrs max - weekends and public holidays

Research Support / Custom Research

If this business study does not have the data and information analysis you need, contact us with your research requirements. We explore available market research reports to map your needs and share report titles with you. Alternatively, we can also offer custom research that suits your budget and timelines. Share your information requirements here.
Connect With Us
Email: sales@reportsandreports.com Call : + 1 888 391 5441

Subscription Option

Using our subscription option, you get access to market research reports and industry data of Consumer Goods market as per your needs. Get the best of Consumer Goods research reports by utilizing your research budgets in an optimum way.

More about our Subscription option
Report Alerts

Get Email alerts about market research reports from industries and publishers of your interest: