With the year 2020 expected to be a turning point for many industries in the Gulf region, Head of Financial Services (MEA) Mathieu Vasseux shares his four predictions for Financial Services in the Middle East:
- Ongoing fiscal consolidation and Lower for Longer rates are putting pressure on revenues
- This lower revenue growth will continue to shift focus towards Cost and Mergers as main source of bottom-line uplift
- Digital moving at the forefront both for neobank challengers and incumbents defending against the new entrants
- Credit quality and funding remain areas of attention as the economic cycle could start to turn
You may also read Oliver Wyman’s 23rd annual State of the Financial Services Industry report here. The report is broken into three sections -- investor pressure, the closing window to deliver, and how companies can make the vision/value mindset collision work for them.