The UAE set to overtake Saudi Arabia as region’s biggest banking sector
- Published: 16 November 2007 17:14
- Author:Matthew Martin | More by this Author
- Last Updated: 20 February 2008 09:07
The balance of power in the GCC banking sector is shifting. For years, Saudi Arabia was by far the biggest market, with the largest assets and the highest profits. But this is about to change. Rapid growth in the UAE means it is set to eclipse Saudi Arabia as the region's biggest banking sector by assets some time in 2008. Including the assets of foreign banks held in the UAE, it already is the region's biggest.
The balance of power in the GCC banking sector is shifting. For years, Saudi Arabia was by far the biggest market, with the largest assets and the highest profits. But this is about to change. Rapid growth in the UAE means it is set to eclipse Saudi Arabia as the region's biggest banking sector by assets some time in 2008. Including the assets of foreign banks held in the UAE, it already is the region's biggest.
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