Retail Banking Country Snapshot: UAE

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Retail Banking Country Snapshot UAE
Published on - 31 January, 2016 Number of
pages 44 Single User Price 3450
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Summary UAE has a well-diversified and sound
financial system that plays an important role in
the economy. The retail banking sector is rapidly
growing due in part to the countrys increasing
expatriate population. Product ownership rates
are high, particularly for current and savings
accounts. Emirati consumers retain a traditional
attitude towards provider choice, favoring banks
with which they have a prior relationship.
Product application is still largely conducted
via branches, meaning there is considerable scope
for providers to encourage greater use of digital
channels. In the UAE, both domestic and foreign
banks have made investments in low-cost
distribution channels such as internet banking
and ATM networks.
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• Key Findings
• The UAE banking sector is less concentrated
  compared to other developed countries, with the
  top three providers claiming slightly over
  two-fifths of current accounts.
• In the UAE, 30 of account holders have switched
  banks in the last 12 months. The UAE has the
  highest switching rate in the region, and is well
  above the global average.
• Emirati savers are cautious, with two thirds
  saving to protect themselves against unforeseen
  events and more than half saving for retirement.
  Growth in Islamic banks is playing a major role,
  resulting in higher deposits with Islamic banks.

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• The UAE mortgage market is relatively small but
  is growing. UAE mortgage balances outstanding
  totaled AED0.29tn in 2014, up from AED0.20tn in
  2009.
• More than a third of UAE consumers have a
  personal loan, and the current growth in consumer
  lending is being fueled by an increase in bank
  competition and changing demographics as a result
  of a growing expatriate population.
• Synopsis
• MarketIntelReports Retail Banking Country
  Snapshot UAE is a review of the retail banking
  sector in the UAE, with a particular focus on the
  current account, savings, mortgage, and personal
  loan markets. It includes both market-level data
  and insight from our global consumer survey.
• The report also provides
• An overview of the UAEs banking sector.

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• Insight into consumer preferences in the UAE, the
  reasons they take out their financial products,
  and how this has evolved in recent years.
• Understanding around the main providers
  dominating the current account, savings,
  mortgage, and loan markets and the different
  factors persuading customers to choose them.
• An examination of to what extent consumers are
  using online and mobile channels to research,
  take out, and use their financial products.

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• Reasons To Buy
• Future proof your strategy with market sizing,
  forecasts, and analysis of key developments
  currently affecting the UAEs 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.

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Retail Banking Country Snapshot UAE
A detailed qualitative analysis of the factors
responsible for driving and restraining growth of
Retail Banking Country Snapshot UAE are provided
in the report.
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om www.marketintelreports.com
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Country Snapshot UAE the Market Report