Dubai, United Arab Emirates - Monday, March 4th 2013 [ME
NewsWire]
(BUSINESS WIRE/ME NewsWire)-- EFMA, a leading non-profit
retail banking association, and consultancy Oliver Wyman have organized senior
briefings with banking executives to discuss the opportunities and threats for
retail banks in the GCC. Oliver Wyman models see banking revenues in the region
quadrupling over the next 20 years, ahead of growth in developed markets. Greg
Rung, Partner in Oliver Wyman’s Retail & Business Banking Practice will
provide an overview of the revenue growth potential of the region, the
institutional requirements for realizing it, and the strategic imperatives for
GCC banks, in both their domestic and foreign markets.
Differences in future growth rates mean that the picture of
global banking will fundamentally change soon, with emerging markets
contributing as much banking revenue as developed markets. Oliver Wyman sees
developed markets’ share of global banking revenues falling from 77% in 2010 to
55% by 2030.
The GCC has entered a critical growth phase, and retail
banking will be the largest part of revenue growth in the region. As the
economy grows, both consumers and small businesses become credit-worthy, and
retail lending begins to take off. Some parts of the retail business remain
underdeveloped, however, such as mortgages and business banking in Saudi
Arabia.
“In order for this growth to happen, there is the need for
certain enablers “ explains Greg Rung, author of the research and host of the
Dubai and Doha meetings. “A good infrastructure, free competition, efficient
legal processes and regulation and political stability are necessary for the
retail banking sector to develop with no hiccups.
Michael Pearson, a strategy and corporate development expert
and author of the Efma report “Innovation in Retail Banking” will add to the debate
by discussing innovations in retail banking worldwide.
For more information on the roadshows, please contact
Fatoumata Ly (fatou@efma.com) or Karine Coutinho (karine@efma.com).
About Efma
As a global not-for-profit organisation, Efma brings
together more than 3,300 retail financial services companies from over 130
countries. With a membership base consisting of almost a third of all large
retail banks worldwide, Efma has proven to be a valuable resource for the
global industry, offering members exclusive access to a multitude of resources,
databases, studies, articles, news feeds and publications. Efma also provides
numerous networking opportunities through working groups, online communities
and international meetings.
For more information: www.efma.com
About Oliver Wyman
Oliver Wyman is a global leader in management consulting.
With offices in 50+ cities across 25 countries, Oliver Wyman combines deep
industry knowledge with specialised expertise in strategy, operations, risk
management and organisation transformation. The firm's 3,000 professionals help
clients optimise their business, improve their operations and risk profile, and
accelerate their organisational performance to seize the most attractive
opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh &
McLennan Companies (NYSE: MMC). For more information, visit
www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.
________________________________________
Contacts
Media:
Efma
Karine Coutinho, +33 1 47 42 69 82
Karine@efma.com
or
Oliver Wyman
Paola Garbini, +39 02 30577442
paola.garbini@oliverwyman.com
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