Research Reports

GCC Banks - Moving Beyond Borders

October 08 , 2023

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Executive Summary

GCC banks have been busy so far serving their home clients while some forayed mainly into Turkey, Egypt, and Pakistan. Macro assumptions about these large economies faltered significantly as political uncertainty played a huge role in operations. This research aims to understand how GCC banks will aim for growth going forward. Growing beyond the home market into the MENA region and other parts of the world can be a mixed outcome as many MENA markets have economic, political, and currency risks though they offer immense opportunities. Going forward, as GCC banks face home saturation, expansion beyond MENA will mean carefully assessing untapped regions like US, Europe, and Asia and establishing leadership in the lucrative Islamic Banking segment. Such expansion can be less risky and can provide a long-term avenue for growth.

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