Arqaam's Meijer on MENA Banks' 1H Results

The transcript discusses the strong performance in retail lending, highlighting a significant reduction in provisions and risk normalization. It examines dividend expectations for Emirates NBD and FAB, noting differences in payout strategies. The discussion shifts to real estate exposure and the impact of interest rates on UAE and Saudi banks. Cyclicality and market valuations are analyzed, with a focus on the Saudi market's growth and potential profit-taking. The transcript concludes with an evaluation of the Saudi banking sector's growth, driven by retail mortgages and cyclicals.

What factors contributed to the strong performance in retail lending during the best quarter?

How did provisions impact the earnings reported in the last fiscal year?

What expectations are set for dividends in the upcoming year for Emirates NBD and FAB?

What concerns were raised regarding the cyclicality of the market?

How do the valuations of Saudi stocks compare to the Dubai index and the MCI emerging market index?

What are the potential risks for the Saudi market in the coming months?

Discuss the implications of the growth in the retail mortgage market.