Gulf banks face an earnings test as rates fall

Emirates NBD is approaching a 30% market share of all UAE retail deposits, more than the next two competitors combined, according to GlobalData analysis. That kind of concentration implies commanding customer relationships. The data on what those customers actually do with their money tells a different story.Underpinning that is a mortgage market that, according to GlobalData, grew at a 21% compound annual rate from 2020, the fastest globally, driven by the Sakani programme and the Saudi Real Estate Develop ...