Emirates Bank International latest

The UAE has 46 commercial banks for 9.5mn people, while Saudi Arabia has 12 local lenders and 14 foreign-bank branches for 33.6mn people, according to central bank data and information from Worldometers. (Shutterstock)
August 2nd, 2018 - 11:34 GMT

The Reasons Behind GCC Banks Mergers

Higher compliance costs with the implementation of new accounting standards, rapid technological innovations, the impact of the introduction of value added taxes and the need for stronger corporate governance frameworks are also adding to costs for banks, adding pressure on small- and medium-sized companies to consolidate.
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