WHAT DO GLOBAL LEADERS THINK OF GCC BANKS?

Over 3,000 C-suite executives and senior managers from Fortune Global 500 and Forbes Global 2000 companies — many of them clients of GCC banks — participated in an ongoing multi-year study exploring the corporate reputations of leading GCC wholesale banks (i.e., banks providing corporate, investment, and commercial/SME banking services in the GCC region). The research uncovered a wealth of data, including numerous candid quotes from participants, offering a unique window into how global leaders view GCC banks.

The following quotes offer a glimpse into the perspectives — both representative and illustrative — of these influential decision-makers:

— “We really appreciate banks like QNB, SAB, First Abu Dhabi Bank, and Emirates NBD — they are ambitious, well-connected, and maintain a strong professional work ethic.”

— “Reputations matter, and the best local GCC banks are highly trustworthy. Although I’ve been with J.P. Morgan Chase and Deutsche Bank since the mid-1990s, having a strong local partner in the GCC is essential — and these banks have consistently exceeded my expectations.”

— “A local bank must understand our company and our needs, know a few things about our industry, competitors, challenges, and financing strategies. Most importantly, it must have an in-depth understanding of who we are — our driving forces and ambitions. And you know what? Banks like Saudi National Bank, Al Rajhi Bank, NBK, and Emirates NBD — not the usual global names — top our list of preferred partners in Saudi Arabia, Kuwait, and the UAE.”

— “The key to successfully working with a GCC bank is being an exceptional listener.”

— “GCC banks are driven to make and close deals, regardless of compensation. They thrive on competition, and we truly appreciate their energetic, client-focused approach.”

— “While legal safeguards are important, we believe that genuine cooperation is the cornerstone of effective and successful relationships with banks, especially across the GCC. GCC banks are highly receptive to this point of view.”

— “In the Gulf region, success is often linked to the success of others, and GCC banks are very aware of this dynamic.”

— “We’re not just choosing between banks; we’re choosing among national champions, which is key in the Gulf region.”

— “No matter how good you are as an American, European, or Asian bank, the local competition always outlasts you.”

— “Complex financial markets, like those in the GCC, underscore the value of maintaining relationships with multiple local banks.”

— “The likelihood of choosing a particular wholesale bank as our principal bank depends on many factors, but the bank’s ‘birthplace’ plays a decisive role.”

— “As a successful US firm, we face what could be called the ‘paradox of success’. We’re in a new environment full of opportunities, but our traditional Western approach is holding us back. What we truly need is the guidance of local banks.”

For further details and insights, visit https://pieterklaasjagersma.com/reports.