US EditionInvestment Banking Surge in the GCC: From Oil to Assets
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Investment Banking Surge in the GCC: From Oil to Assets
Lenders like what they are hearing from Gulf region businesses. Corporate and investment banking (CIB), which already accounted for more than half of total banking revenues in the Gulf Cooperation Council (GCC), is expanding at an annual rate of 14%, more than twice the regional average, according to a recent McKinsey study. Lenders expect CIB revenues to reach the $100 billion mark by 2030 as the region deepens its economic transformation. “Al…
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