So you are thinking about opening your operation here, but not sure if you can get any market share?
Look no further than RAK Bank. Reading Arabian Business while walking on treadmill the other night, (yes, I do read on treadmill!), I came by an interesting piece about RAK Bank operation history: seven years ago, the bank had 60 staff, and had a total asset value of US$136m. Today RAK Bank has 1500 employees, 250,000 customers, and total assets of US$2.5bn! RAK Bank's Titanium card has grabbed 23% market share in the UAE in just 10 months.
A quarter of market share? Not easy … but possible …
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