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Mon - Fri, 9am - 6pm (EST)
Key regions: Germany, United Kingdom, France, Japan, China
The Traditional Banks market in GCC has been experiencing notable developments and trends in recent years.
Customer preferences: Customers in the GCC region have shown a strong preference for traditional banking services provided by established banks. They value the reliability, security, and personal touch offered by traditional banks, especially when it comes to managing their savings and investments.
Trends in the market: In Saudi Arabia, there has been a growing trend towards digital transformation in traditional banks, with many institutions investing in technology to enhance customer experience and streamline operations. This shift is driven by the increasing demand for online banking services and the need to stay competitive in a rapidly evolving market.
Local special circumstances: The UAE market has seen a rise in partnerships between traditional banks and fintech companies, as banks look to leverage the innovative solutions offered by fintechs to improve their services and attract a younger customer base. This collaboration has resulted in the introduction of new digital banking products and services that cater to the changing needs of customers in the region.
Underlying macroeconomic factors: The stability of oil prices in the GCC countries has played a significant role in shaping the Traditional Banks market. As oil prices have stabilized in recent years, the overall economic outlook in the region has improved, leading to increased confidence among consumers and businesses. This has translated into higher demand for banking services and investment opportunities, driving the growth of traditional banks in the GCC.
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data provided by the IMF, World Bank and the annual reports of the top 1000 Banks by asset size. Next we use relevant key market indicators and data from country-specific associations such as GDP, deposit interest rates, lending interest rates or bank account penetration rates. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast financial services for digital as well as traditional products and services.Additional Notes:
The market is updated twice per year in case market dynamics change.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)