TMCnet News

How Online Loan Aggregators contributing to Retail Loan Penetration in UAE - Ken Research
[October 06, 2021]

How Online Loan Aggregators contributing to Retail Loan Penetration in UAE - Ken Research


GURUGRAM, India, Oct. 6, 2021 /PRNewswire/ -- The banking industry in UAE is a highly fragmented space with a presence of ~60 national & international banks in the country. Post 2016 oil crisis, suffering from high NPAs banks in UAE tended to be more cautious when lending particularly to corporate & individuals thereby increasing rejection rates. Even now, banks generally avoid on lending to expats (sometimes putting additional eligibility conditions) & prefer to provide loans to Nationals working in government jobs. Therefore expats (8.5 Mn populations) are often seen resorting to loan aggregator channel.

Ken Research Logo

Retail loans including personal loans, credit cards, mortgages/home loans, car loans is the second most demanded loan category in UAE. With minimal documentation & eligibility criteria, personal loans in the UAE are majorly acquired for the purposes of house renovations, travel, paying off other loans etc. In past years, personal loans outstanding in UAE have been gaining momentum owing to increased working population demand from Dubai & Northern Emirates regions. However, given similar documentation & eligibility criteria one must expect a similar trend to be followed in credit cards demand as well. On the contrary, credit card transactions have been falling owing to limited Merchant's Banking Infrastructure availability and making credit cards usage limited & challenging.

Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=MzM3MDc0

From past 2-3 years, property prices in the UAE have been following a downward trend reaching an average price of AED 2.58 Mn by 2019 and shifting from investor led market to owner-occupied market. Attaining home loan in UAE is a costly & time consuming process, therefore consumers often take online aggregator services to either compare loan prices or get assisted in overall loan acquisition process.

In recent years, instead of purchasing a new car consumers have been shifting to alternative options such as car leasing, car subscriptions or purchasing used cars. This in turn has decreased country's year on year car sales subsequently negatively impacting car loan demand in the country. However, car dealerships often have tie ups with multiple banks thereby helping purchasers in loan facilitation & charges negotiations which is one of the major reasons for consumers to not preferring online aggregator services.

SME loans can be a high potential area for online aggregators. According to Dubai SME Report of 2018, 400 thousand MSMEs contribute ~40% to the GDP and employ 42% of city's workforce. However, owing to credibility issues & failing to meet collateral requirements, SMEs in The UAE suffer from 60-65% rejection rate therefore are often seen to rely mainly on self funding options or on aggregators for loan facilitation.

COVID 19 pandemic has made industries realize the importance of online operations and has brought in major shift in consumer behavior with consumers preferring contactless online services. Such a situation is expected to act as an opportunity for online loan aggregators thereby expecting tremendous growth through increased traffic & leads.

Companies Covered: –

  • YallaCompare
  • Souqalmal
  • BankOnUs
  • Policy Bazaar UAE
  • SoulWallet
  • UAE Cash Loans

Time Period Captured in the Report: –

Historical Period: 2015–2019



Forecast Period: 2020-2024

Key Topics Covered in the Report: –


  • Socio-Demographic, Economic & Banking Scenario in UAE
  • Snapshot of Lending scenario in The UAE with segmentation by Business & industrial Loans, Retail Loans, Loans to Government, Public Loans & Loans to Financial Institutions
  • Retail Lending Scenario with Segmentation by Personal Loans, Credit Cards, Mortgage/Home Loan, Car Loan and Others
  • Gaps in Traditional Loan Industry fulfilled by Online Loan Aggregators
  • Online Loan Aggregator Industry in The UAE with Business Model followed
  • End-to-End Customer Journey followed
  • Technological & Operational Structure followed
  • Regulatory Landscape in UAE Loan Industry

Competitive Landscape including Overview, Ecosystem & Cross Comparison among major players on basis of Operational, Loan Providers, Product Portfolio, Strengths & Weakness Analysis, website Features

Company Profiles-YallaComapre, Souqalmal, BankOnUs, PolicyBazaar UAE, SoulWallet, UAE Cash Loans

International Case Studies-PaisaBazaar (India), Money Super Market (UK)

Future Outlook of Retail Lending & Online Loan Aggregators

Impact of COVID 19

Online Loan Aggregator Market UAE

Online Loans Industry in UAE

Online Loans Market in UAE

PolicyBazaar UAE Credit Cards Revenue

PolicyBazaar UAE Online Loan Market Share

PolicyBazaar UAE Personal Loan Revenue

Revenue Loan Aggregators UAE

Souqalmal UAE Personal Loan Revenue

UAE Cash Loans Online Loan Market

UAE Credit Cards Online Market

UAE Fintech Market

UAE Online Aggregator Services Market

UAE Online Car Loan Market

UAE Online Distribution Loan UAE

UAE Online Loan Aggregator Industry

For More Information on the research report, click on the below link: –

UAE Online Loan Aggregators Industry

Related Reports by Ken Research: –

Indonesia Online Loan and Insurance Industry Outlook to 2024 : Compelling Incumbents to pursue growth via Product Development & International Expansion

With 150+ registered insurers, Indonesia lags behind other Asian countries in terms of insurance penetration rate (2.8% against global average rate of 6.1%). Insurance in Indonesia is usually purchased only out of regulatory requirements & those purchasing it out of need usually opt for packages providing extra benefits such as Repair Coverages, Covering for Cost of prescription Drugs etc. Out of the multiple insurance types provided in the country, life Insurance was observed to be leading with a market share of >40% primarily gaining traction from "Corporate Benefits & "Investment Linked Products.

Singapore Auto Finance Market Outlook to 2025 - Driven by Green Car Loans, Growing Digital Advancements and Increasing Number of Finance Aggregators

The Singapore Auto Finance Market was observed to be in growth stage during the period of 2015-2020 owing to the growing digital advancements to ease loan application process, emerging green car loans, introduction of finance aggregators and more. The Singapore Auto Finance Industry had grown at a CAGR of 0.7% on the basis of Auto credit disbursed and 2.2% basis Auto Loan Outstanding in 2015-20. The CAGR was comparatively low owing to less number of cars financed in 2020 due to COVID – 19. As of 2020, on an average, 85-90% of the vehicles sold in Singapore were financed, with approximately ~65% of the cost share borrowed from Auto Financial Institutions.

Philippines Auto Finance Market Outlook to 2024- Growing Prominence of Captive Finance and Surge in Used Car Sales Supporting Disbursement for Auto Loans

The auto finance market has played an imperative role in the overall GDP (Constant Prices) contribution in the Philippine economy with a value contribution of more than 25% in terms of auto loan outstanding by the end of 2019 (Provisional). The Auto Finance Market in Philippines is fairly new and has not been able to penetrate the country. There is a lack of knowledge and awareness in the country which leads to the problem of people opting for cash purchases, in place of finance payments. Major operations are conducted by two types of entities namely, Banks & Subsidiaries and Non Bank Financial Institutes. The only captive finance working in the country is Toyota Financial Services Philippines and other than that there is a lack of Captive finance institutions.

Thailand Auto Finance Market Outlook to 2024: Growing Prominence of Captive Finance Companies and Loan Portfolio of Banks acting as a Catalyst for Market Growth

The auto finance market has played an imperative role in overall GDP contribution in the Thai economy with a valuable contribution of ~ in terms of auto loan disbursed by the end of 2019. The market compasses similar trends fairly in-line with the domestic vehicle sales market, qualitatively & quantitatively. After witnessing a burst in 2015 the market is currently placed in its recovery phase registering a slow-moving growth rate. Thailand's auto finance market size in terms of the auto loan outstanding increased during 2014-2019P thus, registering a positive CAGR during the same period. The growth factors include lowering lending rates, growth in new & used car sales, expanding household disposable income and higher farm income along with progressive technological advancements being mandated by the government and the adoption of digitalization by all major financial institutions in the country.

Contact Us:

Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Logo: https://mma.prnewswire.com/media/661352/Ken_Research_Logo.jpg  


[ Back To TMCnet.com's Homepage ]