The Middle East banking industry assets will grow at a CAGR of over 16% during 2011-2014

The financial services sector in the Middle East, one of the world's fastest growing banking markets, is amid massive overhaul. The banking sector is well developed, profitable, and efficient in most of the Gulf Cooperation Council (GCC) countries. As per our latest findings, public sector banks, characterized by government intervention in credit allocation, losses and liquidity issues, dominate the banking sector of many countries. In over 50% of the Middle East countries, the banking sector is highly concentrated, we observed. Based on our analysis, it has been estimated that the Middle East banking industry assets will grow at a CAGR of over 16% during 2011-2014.
 
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