Banking

Home to nearly one-third of the GCC’s banking assets, the UAE’s banking industry is the biggest in the region. Dubai is one of the nation’s two financial centres, and through its vibrant onshore and offshore markets, the emirate has established itself as an integral component of the global financial services sphere. Despite the adverse effects of low oil prices in recent years, the domestic banking sector has remained both well capitalised and liquid, while its financial performance has been characterised by rising net profits and lower cost-to-income ratios. This chapter contains interviews with Bernd van Linder, CEO, Commercial Bank of Dubai; and Elissar Farah Antonios, Cluster Head UAE, Levant and Iraq, Citi.