Forecast: Number of Depositors at Commercial Banks in Middle East & North Africa

The number of depositors at commercial banks in the Middle East & North Africa has shown notable fluctuations over the past decade. From 2014 to 2023, the Year-on-Year (YoY) growth rates varied significantly. After a marked increase of 12.86% in 2014, there was a dip of 6.97% in 2015. However, the years following saw consistent growth, peaking at 26.68% in 2016, and settling to modest increases in recent years. Notably, in 2023, the market stood at 999.78 units per thousand persons with a 1.92% YoY increase and a 1.88% CAGR for the last five years.

Future trends to watch for:

• Continued gradual growth with an average annual CAGR of 1.34% forecasted over the next five years.
• A projected steady increase to 1090 units per thousand persons by 2028.
• Potential influencing factors include economic stability, regulatory changes, and technological advancements in banking services.