United Arab Emirates (UAE) Retail Banking Competitor Benchmarking - Financial Performance, Customer Relationships and Satisfaction

United Arab Emirates (UAE) Retail Banking Competitor Benchmarking - Financial Performance, Customer Relationships and Satisfaction
Summary

In 2022, the majority of banks in the UAE recorded improvements to their net interest margins and cost/income ratios compared to 2021. The top competitors consolidated their position in the market, increasing their share of retail deposits, personal loans, credit cards, and residential mortgages. Abu Dhabi Commercial Bank is the owner of 20% of the current account relationships and is the top competitor for every age group and affluence band examined.

This report explores both the financial performance of and customer attitudes towards UAE retail banks. Key statistics such as total divisional assets and cost/income ratios are provided for all major players, alongside market shares for key products. Moreover, responses collated from GlobalData’s 2023 Financial Services Consumer Survey are presented to help the reader get to grips with UAE customers’ relationships with their providers. More granular analysis of consumer sentiments is also provided, which breaks down customer satisfaction for a range of attributes. These findings then form the basis of the actionable steps section, which provides analysis of the successes and failings of each provider covered in the report, as well as advice on how to address these failings.

Scope

• All banks covered (other than First Abu Dhabi) increased their net interest margins and reduced their cost/income ratios between 2021 and 2022.
• While UAE banks generally have high Net Promoter Scores scores, the likelihood of customers switching remains high.
• Customers of Dubai Islamic Bank and Al Hilal Bank are uniquely dissatisfied with their providers’ products and services. They performed below average across most satisfaction metrics.

• Develop an understanding of the composition of the UAE retail banking market
• Learn which banks are succeeding and which are falling across various metrics, ranging from profitability to Net Promoter Score
• Identify the actionable steps that need to be taken by UK banks to address their biggest shortcomings