close
MIDDLE EASTERN (B)

Here's Why Consolidation Is Required in UAE's Banking Sector

shutterstock_uae_banking_mar18.jpg


The UAE banking industry is well-capitalised and stands on solid pillars, but still requires consolidation to emerge stronger in this competitive era by merging smaller units with major financial groups, experts say.

Analysts and seasoned bankers said that the UAE’s banking sector is overbanked as a small country with a population of 9.5 million is served by 60 local and foreign banks. They were of the view that the UAE banking industry may see at least two to three mergers in the near future.

The UAE's 9.5 million population is currently being served by 60 local and foreign banks. (Shutterstock)

Copyright © 2019 Khaleej Times. All Rights Reserved.

read more



Source link

admin

The author admin

Leave a Response