Credit card profits in the Middle East have climbed impressively since 2010 and although the region accounts for just 1.2 percent of the global credit cards industry profit pool, it is the leading region in terms of profitability per card.
The region's credit card business is still in its infancy but growing exponentially. The rate of growth is evidenced by the fact that the number of credit cards grew at nearly four times the global rate between 2010 and 2016. Over the same period, total billed volume on credit cards grew at a compound annual rate (CAGR) of 20 percent, joint top with Asia-Pacific.
Much of the growth in the Middle East credit card profit pool metrics is underpinned by the premium card segment's influence in the market, without which profitability of the credit card in the region would be at a much lower rate. The challenge going forward for issuers in the region, is finding the right value proposition for consumers below the premium segment and adopting new approaches to customer segmentation.
Credit Card Profitability: Middle East looks at the region's top cards markets to unmask the peculiar and individual characteristics of these various countries and addresses significant issues, including:
Credit Card Profitability: Middle East also provides you with critical data for each country, including:
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