Banking
From The Report: Bahrain 2019
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Growth in the banking sector has maintained an upward trajectory in recent years, with banking assets growing and investors taking note of the favourable and robust regulatory environment. This, combined with the sector’s profitability, high penetration rates and investment in financial technology, has strengthened Bahrain’s position as a regional leader in banking. Bahrain’s proximity to Saudi Arabia, combined with the availability of an experienced banking workforce, the ease of recruiting expatriates and respect for the Central Bank of Bahrain, have seen it maintain a role as a regional, and in particular Saudi-focused, centre for financial services. This chapter contains an interview with Jean-Christophe Durand, CEO, National Bank of Bahrain.

Articles from this Chapter

Overview

The bottom line: Ongoing industry growth supported by favourable regulations and an experienced workforce
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Growth in the banking sector has maintained an upward trajectory in recent years, with banking assets growing and investors taking note of the favourable and robust regulatory environment. This, combined with the sector’s profitability, high penetration rates and investment in financial technology (fintech), has strengthened Bahrain’s position as a regional leader in banking. Sector History Bahrain’s first local bank, the National Bank of Bahrain, was established in 1957. When the…

Interview

Changing landscape: Jean-Christophe Durand, CEO, National Bank of Bahrain (NBB), on the effects of increased demand for digital banking services and private financing
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Interview:Jean-Christophe Durand How has Bahrain advanced in terms of financial technology (fintech), and what more can be done? JEAN-CHRISTOPE DURAND: In both Bahrain and throughout the world in general, technology is set to become a more important part of the banking industry. The expectations of the younger generation in terms of the products, quality of service and experience provided by banks are changing. To keep up with this, banks across the kingdom are launching initiatives to improve…

Analysis

Digital upgrade: Local players are turning to online and digital banking, with a view to becoming a regional fintech hub
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Bahrain’s online and digital banking segment is developing rapidly, bolstered by the kingdom’s aim to become a regional financial technology (fintech) hub. Throughout 2018 banks launched digital banking services tailored to the needs of Bahrainis. In March 2018 Bank ABC announced plans to launch neobank, a fully digital bank set to be operational in 2019. Shortly after, Gulf International Bank (GIB), a Saudi-owned wholesale bank that acquired a retail banking license in 2017, launched…

Overview

Fintech revolution: Tech solutions are driving the evolution of the sector landscape
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Once reserved for ambitious start-ups and industry-leading tech operators, financial technology (fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives of consumers, investors have quickly come to recognise its potential as a growth industry. The tech-focused Janus Henderson Global Technology Fund, for example, has expanded by more than 160% since February 2013, and grew by some 30% over the course of 2017. Fintech is rapidly advancing across an array…

Overview

Fintech revolution: Tech solutions are driving the evolution of the sector landscape
OBG
plus

Once reserved for ambitious start-ups and industry-leading tech operators, financial technology (fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives of consumers, investors have quickly come to recognise its potential as a growth industry. The tech-focused Janus Henderson Global Technology Fund, for example, has expanded by more than 160% since February 2013, and grew by some 30% over the course of 2017. Fintech is rapidly advancing across an array…