New Market Research Report: Retail Banking Country Snapshot: UAE


Fast Market Research recommends "Retail Banking Country Snapshot: UAE" from Verdict Retail, now available



[ClickPress, Tue May 24 2016] 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 country's increasing expatriatepopulation.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 domesticandforeignbankshavemadeinvestmentsinlow-costdistributionchannelssuchas internet banking and ATM networks.

Full Report Details at
- http://www.fastmr.com/prod/1173005_retail_banking_country.aspx?afid=301

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.
* 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
Verdict Financial's "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 UAE's banking sector.
* 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.

Reasons to Get this Report

* 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.

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

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- Retail Banking Country Snapshot: Spain
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- Challenges and Opportunities for the Wealth Sector in the UAE 2015

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