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KSA Banking Industry: A BPO Perspective September 2013

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Agenda

• Country Overview – Saudi Arabia • Industry Overview – Banking • BPO Market of KSA • BPO Competitive Landscape of KSA – Profile of Major Players in KSA – Outsourcing Deals by Industry • KSA Demographics

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Country Overview – Saudi Arabia

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GDP of Saudi Arabia is expected to grow at a CAGR of 3.7% to reach USD 905 Bn in 2018 Key Observations

GDP Breakdown by Economic Activity, 2012

• Economic performance is heavily dependent on oil, which accounts for the bulk of fiscal and current account revenues • Real GDP growth reached 6.8% in 2012, due to the rising government and consumer spending and a pickup in oil output • The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP and 90% of export earnings • Growth in manufacturing, construction, trade and transport subsectors has been the main driver of overall growth in the private sector

Agriculture, forestry & fishery 1.8%

Petroleum refining 2.6% Construction 4.6% Manufacturing 7.7%

Electricity, gas & water 1.1%

Mining & quarrying 47.2%

GDP, Current Prices (USD Bn)

727

746

761

789

822

862

905

1,000 800 600 400 200 0

Trade & services 35.0%

CAGR: 3.7%

2012

2013

2014

2015

2016

2017

2018

Inflation Rate (% Change) 6% 5.8%

GDP Per Capita, Current Prices (USD Bn)

4%

CAGR: 1.6%

3.7%

2011

2012E 2013E 2014E 2015E 2016E 2017E 2018E

3.6%

3.5%

3.5%

3.5%

3.5%

3.5%

25,163

25,170

25,571

26,112

26,837

27,642

2% 25,085

28,000 27,000 26,000 25,000 24,000 23,000

3.6%

2012

2013

2014

2015

2016

2017

2018

0% 2010

Source: IMF; Bank Audi Report; Saudi Arabian Monetary Agency; Secondary Research

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Industry Overview – Banking

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With USD 461.8 Bn, Saudi Arabia had the second largest banking assets in the GCC region in 2012 Total Assets in USD Bn, 2008-12

Market Share by Assets 100% = USD 461.8 Bn

346.7

2008

365.2

2009

377.4

2010

411.8

2011

Others Saudi Investment Alinma Bank 5.8% 3.1% Bank 3.4%

461.8

National Commercial Bank 19.9%

Saudi Hollandi 3.9% Arab National Bank 7.9% Saudi British Bank 9.0% Banque Saudi Fransi Riyad Bank 9.1% 11.0%

2012

Al Rajhi Banking Corporation 15.4% Samba 11.5%

Observations • Saudi Arabia had the second largest banking assets of USD 461.8 Bn in the Gulf Cooperation Council (GCC) region in 2012 • Saudi Arabia banking sector comprises 23 banks, including 12 local and 11 foreign. Banking industry is highly regulated by the Saudi Arabian Monetary Agency (SAMA) • Saudi banks exhibited strong credit growth due to massive capital spending by the government. Currently, the SAMA is in the process of implementation of the Basel III framework, which will further strengthen the banking industry • In 2012, the total banking assets grew 12.1% over the past year to reach USD 461.8 Bn. This was the highest growth on Y-o-Y basis in the last five years • All Saudi banks reflected a positive growth in total assets, with the National Commercial Bank (NCB) representing the largest share of USD 91.9 Bn. The top five Saudi banks represent ~67% of the total assets Source: SAMA

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Key Banking Statistics of Top 10 Banks (2012) Top 10 Banks by Net Profit (USD Bn) 0.19 Alinma Bank

0.24 Saudi Investment…

0.33

0.62

0.78

0.84

0.90

1.13

Saudi Hollandi

Arab National Bank

Banque Saudi Fransi

Saudi British Bank

Riyad Bank

Samba

1.72

2.05

National Al Rajhi Commercial Bank Banking…

Top 10 Banks by Branches 49

54

Alinma Bank

Bank Al-Jazira

72 Samba Financial…

79

86

88

145

Saudi British Bank

Banque Saudi Fransi

Bank Albilad

The Arab National Bank

252

299

467

Riyadh Bank

The National Commercial Bank

Al-Rajhi Bank

1,960

2,591

3,297

Riyadh Bank

Al-Rajhi Bank

Top 10 Banks by #ATMs 379

482

528

569

Saudi Banque Samba Saudi British Investment Bank Saudi Fransi Financial Group Bank

650

728

Alinma Bank

AL-Bilad Bank

886

The Arab The National National… Commercial Bank

Top 10 Banks by Distribution of POS 1,758

2,321

Al-Bilad Bank

Al-Jazira Bank

5,419

5,922

Samba Financial Banque Group Saudi Fransi

7,868

7,993

Saudi British Bank

Bank Al-Jazira

10,180

12,775

The Arab The National National BankCommercial Bank

12,930

Riyadh Bank

24,133

Al-Rajhi Bank

Source: Sutherland Research

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Key Trends and Challenges Saudi Arabia – Banking Industry Trends Loan growth to remain strong • Loan growth in the Saudi banking sector is likely to remain strong in 2013, driven largely by newly-implemented mortgage lending law and robust small and medium enterprise (SME) lending Mortgage financing, a huge opportunity to be tapped • Home ownership and real estate financing in Saudi Arabia, particularly for low- and middle-income segments, have been weak, primarily due to the absence of a mortgage law. Saudi Arabia experiences severe shortage of homes, with just 30%-45% of the population currently owning a house Mobile and Internet Banking • Saudi Arabian commercial banks have observed a noteworthy expansion in utilizing and operating modern banking technologies, including internet banking services and phone banking. The rapid strides are due to rising penetration of mobile phones and internet

Saudi Arabia – Banking Industry Key Challenges Interest spread to remain under pressure in 2013 • SAMA’s expansionary monetary policy stance is likely to keep interest rates low in 2013-14. This, coupled with rising pricing pressure due to competition and the higher cost of tapping capital market, could exert pressure on interest spread in 2013-14 Human resource • Due to restricted labor regulations inside the Kingdom, human resource management is becoming a challenge for the sector

Source: Sutherland Research

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Saudi Arabia BPO Market Size

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Saudi BPO market will reach USD 54.6 Mn in 2016 BPO Market, 2012

Observations • For 2012, the BPO market by end user spending in the MENA region was USD 424.2 Mn. This was minuscule compared to the global BPO market size of ~USD 140 Bn

Global: USD 140 Bn

MENA Region: USD 424.2 Mn

Saudi Arabia: USD 49.4 Mn

KSA BPO Market by segment, 2012 (USD Mn) 6.1

BPaaS 16.3

9.1

5.5

3.3

2.2 0.5

1.0

6.8

2.6 4.0 4.0

Traditional 33.2

4.4

USD 33.2 Mn

USD 16.3 Mn

USD 49.4 Mn

Administration Services Human Resources

Finance and Accounting Supply Management

Customer Management Operations

KSA BPO Market by Trend (USD Mn) 51.2

52.6

16.8 34.4

17.3 35.3

2010

2011

50.7

51.8

53.2

54.6

16.3 33.2

16.7 34.0

17.1 34.7

17.6 35.6

18.1 36.5

2012

2013(e)

2014(e)

2015(e)

2016(e)

49.5

Traditional BPO

• The Kingdom of Saudi Arabia was one of the larger BPO markets in the region with a market size of USD 49.4 Mn. Other larger markets being Israel, Turkey and the UAE • Traditional BPO formed the bigger segment with about two-thirds of the total BPO market in the KSA. Business Process as a Service (BPaaS) formed the rest of the market • Administrative service was the largest category of the traditional BPO segment, while customer management dominated the BPaaS segment • The KSA BPO market has witnessed a decline in the last few years but is expected to bounce back to reach USD 54.6 Mn by 2016

Business Process as a Service (BPaaS)

Source: Gartner; Sutherland Research

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BPO Competitive Landscape

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BPO Competitive Landscape (1/5) Company

Location

Services Offered

Clients

•Industry Served

Employees

Market Entry Strategy/Future Plans

• Al-Khobar

• Customer service • Marketing • Finance and Accounting • Back Office

• Saudi Aramco • Makkah Metro in Makkah • Royal Commission Companies – Jubail – Yanbu and AlElm Co (Served from Bahrain)

• Utilities • Government

150

• In 2012, Serco acquired the arm of MENA Business Services FZ LLC (MBS) based in the Kingdom of Saudi Arabia (KSA) • Arabian Railway Company and Serco work closely to establish joint work activities in Saudi Arabia • Serco is working to bring services such as customer service, marketing, finance, accounting and other back-office shared services to the Saudi market

• Riyadh • Jeddah • Dammam

• Customer Prospecting • Customer Acquisition • Activation and Order Processing • Customer Care • Customer Support • Retention Management Services

• Saudi Telecom Co (STC)

• Telecom

1,200

• Aegis and STC formed a joint venture, Call Centre Company (CCC), to provide customer care to STC’s 28 Mn customers in Saudi Arabia • Both partners have near-equal stakes in CCC, with STC holding a 51% share, and Aegis the rest. Aegis would have operational control and responsibilities • STC is focusing on other growth markets such as the Gulf States, Africa and India

• Riyadh – 2 centers • Dammam

NA

• Elm Learning, Training & Development Solutions • National Water Company of Saudi Arabia • Saudi Electricity Company

NA

• Accenture is enhancing its capabilities in the Middle East through an agreement to form a joint venture with Saudi Arabia-based Al Faisaliah Group (Al Faisaliah) through the acquisition of majority stake in Al Faisaliah Business & Technology Co. (FBTC), an Al Faisaliah subsidiary • Accenture has nominated two non-profit organizations – INJAZ UAE, a member of Junior Achievement Worldwide, and the Al-Nahda Philanthropic Society for Women in Saudi Arabia to receive the funds required to set up skill developments

• Utilities

Source: Sutherland Research

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BPO Competitive Landscape (2/5) Company

Clients

•Industry Served

Location

Services Offered

Employees

Market Entry Strategy/ Future Plans

• Riyadh • Al-Khobar • Jeddah

• IT & Business Consulting Services • Business Solutions • IT Management Services • Application Development • Consultancy • Infrastructurerelated Services

• Saudi Arabian Airlines • King Abdullah University of Science and Technology (KAUST) • Atheeb Telecom

• Airlines • Telecom • Utilities

• Riyadh

NA

• Saudi Telecom

• IT • Telecom

NA

• Tech Mahindra has set up an office in Riyadh to provide services in the West Asia market • Riyadh office is integral to the expansion of Tech Mahindra in the Middle East for its sales, support and delivery of the IT and telecom offerings

• Jeddah

• Front Office and Back Office • Technical Support Services • Customer Care Services • Telemarketing and Sales • Back Office Services • Business Solution Services

• National Retail chain • National bank • Western European consulate • Multi-national petro-chemical company

• Banking and Financial Services • Insurance • Government and Utilities • Technology • Telecommunication • Media • Healthcare and Pharmaceutical • Manufacturing • Education • Oil & Gas • Travel, Transportation and Hospitality • Retail and Consumer products

NA

• SolexPlus is a professional customer relationship management company, which has been set up in Jeddah by Saudi investors to provide world-class customer service experience for leading organizations in Saudi Arabia and across the region

• In 2002, Wipro entered Saudi Arabia with a strategic alliance with Dar Al Riyadh Holding Co. forming Wipro Arabia Limited (WAL)

750

Source: Sutherland Research

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BPO Competitive Landscape (3/5) Company

Location

Services Offered

• Riyadh • Jeddah • Dammam

• Information Lines • Tele-sales/Order Taking • Database Building/Validating • Market Research • Subscription Renewal • Welcome Calls • Helpdesk • First-line Support • Tele Collection Followup • Customer Satisfaction Surveys • Complaint Handling • Marketing Hotline • Telesales • Database Building and Updating • Lead Generation • Order Taking • Cross- and Up-sell

• • • • • • • • • • • • • • • • • • • •

Al Rahji Bank HSBC Bank Aljazira Bank Albilad Alinma Bank Novartis Pfizer Bupa Toshiba Sharp Unilever Zonik Toyota Volvo Renault McDonalds Burger King Herfy Sama Saudi Electricity Company

• Riyadh • Al-Jubail

• Business Application Solutions • Consulting

• A leading power and water utility company in Saudi Arabia • Saudi Arabia’s Chamber of Commerce of the Eastern Region • Ministry of Education, KSA • National Commercial Bank of Saudi Arabia • Saudi Telecom

•Industry Served

Employees

• • • • • • • • •

Government Utilities Banking Insurance Automotive Aviation Retail Healthcare Fast Food

2,500+

NA

• • • • • • • •

Government Telecom companies Banks Capital Market Insurance companies Airlines Oil and gas companies Utilities

NA

NA

Clients

Market Entry Strategy/Future Plans

Source: Sutherland Research

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BPO Competitive Landscape (4/5) Company

Location

Services Offered

Clients

• Riyadh

• Finance and Accounting Services • Immigration Services • Personnel Administration Services • Office Management • Travel Services • Human Resources Relocation Services

NA

• Riyadh

• Professional Business Services • Contact Center • Finance and Administration • Human Resources • Recruitment Process • Learning and Development • Banking • Insurance • Information Technology

• • • • • • • • • • •

NCB Riyad Bank McDonalds Friendi Mobile Saudi Electricity Company Banque Saudi Fransi Rajhi Steel Bank Albilad Saudi Arabia Airlines Al-Rahji Bank NAS Air

•Industry Served • Government

• • • • •

Banking Retail Government Utilities Airlines

Employees

Market Entry Strategy/Future Plans

50-200

NA

NA

NA

Source: Sutherland Research

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BPO Competitive Landscape (5/5) Company

Location • Riyadh

Services Offered

Clients

• Information Technology • Contact Centre Services • Technical Support • Sales & Marketing • Administrative Support • Web Order Management • Tele-Sales • Disaster Recovery Site • Bill Collection Service • Lead Generation • Research and Analysis • Market Survey • Database Filtration & Validation • Human Resourcing Hiring & Training

• National Water Company • Mobily • Ministry of Labor • King Fahad Medical City • Ministry of Commercial and Industrial • Ministry of Water & Electricity • Princess Nora Bint Abdul Rahman University

•Industry Served • Telecom • Government

Employees

Market Entry Strategy/Future Plans

NA

NA

Source: Sutherland Research

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Major Outsourcing Deals in Various Saudi Industries (1/2)

Industry

Telecom

Banking

Client

Vendor

Deal Year

•Services Offered

Saudi Telecom Co. (STC)

• Call Centre Company (CCC)

Saudi Telecom Co. (STC)

• TCS

NA

• Billing • Customer Relationship Services

• Tata Consultancy Services Ltd. announced a USD 33 Mn outsourcing contract from Saudi Arabia's state-owned telecommunications company. Under the deal with Saudi Telecommunications Co., Tata Consultancy Services will handle the company's billing and customer relationship services

USD 33 Mn

Saudi Telecom Co. (STC)

• Convergys

NA

• • • •

• Convergys Corporation signed a contract with Saudi Telecom Company (STC), for BPO financial process management; Business process outsourcing; Consulting; Training

NA

Mobily (Etihad Etisalat)

• Company’s own captive

NA

• Call Center

• Captive is designed to provide services that respond to queries for information on Mobily services. The center will act as a hub for Saudi Arabia's call centers with ~250 FTEs

NA

Saudi Hollandi Bank

• HP

NA

• Call Center

• Develop and deliver a Multi-channel Platform, which will provide the bank’s customers enhanced services across internet, mobile banking, ATMs, call centers and the bank branches

NA

A National Bank

• SolexPlus

2010

• Call Center

• A national bank signed with SolexPLUS to handle cobranded credit card inquiries. Around 100,000 Inbound and Outbound calls in a year resulted in 74% conversion rate of eligible caller to prospect leads

NA

2011

• • • • • •

Deal Value

Details

Customer Prospecting Customer Acquisition Activation and Order Processing Customer Care Customer Support Retention Management Services

Financial Process Management Business Process Outsourcing Consulting Training

USD 2 Bn • Aegis-STC formed a near-equal JV – CCC. STC to be an anchor customer • STC to study its fixed cost and focus on core operations; Aegis gets a marquee anchor client • CCC to scout for additional local business in the region • CCC would provide customer care service to STC's over 28 Mn customers in the KSA • 550 agents initially with potential of scaling up to 5,000 agents

Source: Sutherland Research

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Major Outsourcing Deals in Various Saudi Industries (2/2)

Industry

Banking

Government

Retail

Airline

Client

Vendor

Deal Year

•Services Offered

Deal Value

Details

Bank Al Bilad

• Etisal

NA

• Call Center

• Bank Al Bilad singed direct sales service agreement with Etisal to sell the bank’s unique Islamic products through Etisal direct sales force starting in Riyadh and to be extended covering the kingdom gradually

NA

Makkah Metro in Makkah

• Serco

2010

• Back Office • Operation

• Serco’s responsibilities include recruitment support, mobilization planning, O&M training and documentation, metro rules and procedures, HSQE management, safety case development and programme management

NA

McDonald’ s

• Etisal

2007

• Call Center

• McDonald’s home delivery’s call center operations. The call center receives home delivery requests, logs the order, sends it to the most appropriate restaurant and follows through until successfully delivered

NA

2010

• Call Center

• A large national retail chain appointed SolexPLUS to handle customer care function. The coverage includes 16 hours a day and 365 days a year. The current campaign enables the customers to raise the inquiries/complaints, which are handled by SolexPLUS and automated request/complaint system as well as CRM toll is used to log, escalate and track the queries/complaints

NA

• Passenger Revenue Accounting • Cargo Revenue Accounting

• Outsourced passenger revenue accounting, and cargo revenue accounting system and processing

NA

• • • •

• Smart Link provides customer support for NAS Air customers in the Kingdom of Saudi Arabia, as well as the UAE, Syria, Lebanon and Jordan customers • Call center outsourced to a division of Smart Link, which serves through female employees

NA

A large • SolexPlus national retail chain

Saudi Arabia Airlines

• Accelya Kale Solutions Limited

NAS Air

• Smart Link

NA

2009

Customer Support Reservation Booking Cancellation

Source: Sutherland Research

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Saudi Demographics

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Key Demographic Indicators: Saudi Arabia (2012)

29.2 Mn 2.2% 6.5 Mn 5.2 Mn 0.99 Mn 35.6%

Total Population

Saudi Population Growth Rate Saudi Female Population of 15 years and over

Saudi Labor Force Saudi Female Labor Force with education qualification of Secondary or above Employment as a percentage of Population

2.9% 20.7 Mn 11.3 Mn 1 Mn 5.5% 96.6%

Population Growth Rate Total Population of 15 years and over

Total Labor Force

Saudi Female Labor Force Total Unemployment Rate Net Enrollment Rate in Primary Education

19.8 Mn 13 Mn 9.5 Mn 0.7 Mn 12.1% 122

Saudi Population

Saudi Population of 15 years and over

Total Non-Labor Force Saudi Female Labor Force in the age group of 15-34 Saudi Unemployment Rate Cost of Living Index

• The total population of Saudi Arabia as of 2012 was estimated to be 29.2 Mn. About 32% of the population is made up of foreign nationals living in Saudi Arabia • Of the overall population of Saudi Arabia, 20.7 Mn are of 15 years and above, 41% of them being women. This category of population (>15yrs) is divided into Labor Force and Out of Labor force • Unemployment rate among Saudi nationals is significantly higher compared to the overall population’s unemployment rate in the Kingdom of Saudi Arabia • Of the overall population, only 1 Mn forms the Saudi female labor force, 0.7Mn of which are from the age group of 15 to 34 years Source: Central Department of Statistics & Information

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Saudi Arabia Labor Force by National and Education Status (2012) Distribution of Saudi Labor Force (15 years and over) by Education Status

Distribution of Saudi and Non-Saudi Population in the Labor Force

Secondary or Equivalent

Female 5.8%

Intermediate 34.0% Primary

Male 47.6%

Read & Write

12.1% 7.5%

illiterate

2.8% 1.4% 0.5%

Doctorate

1.2%

High Diploma Master Degree

31.1%

Female 9.2%

S a u d i

Male 37.4%

Bachelor Degree

N o n S a u d i

Distribution of Non-Saudi Labor Force (15 years and over) by Education Status Secondary or Equivalent

15.6%

Intermediate Primary

23.3%

Read & Write 19.6% illiterate Doctorate

15.9%

High Diploma Master Degree

3.3% 0.9%

Bachelor Degree

1.3% 16.0%

Diploma

9.4%

4.1%

2012

Diploma 2012

11.3 Mn

2012

Source: Central Department of Statistics & Information

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Saudi Arabia Unemployment Statistics (2012) Distribution of Saudi Labor Force (15 years and over) by Gender Employed

Unemployment Rate among Saudi (15 years and over) by Gender in 2012 40%

35.7%

30%

Females 15%

20% 12.1% 10%

Males 85%

6.1%

0% Males

4.6 Mn Unemployed

Females 58%

Total

Distribution of Saudi Unemployed (15 years and Over) by Education Status Intermediate 5.5% Primary 2.9%

Males 42%

Females

Secondary or Equivalent 34.9%

Diploma 9.5%

Read & Write 0.5%

0.6 Mn

illiterate 0.0% High Diploma Master Degree 0.4%

Bachelor Degree 46.2%

0.6 Mn

Source: Central Department of Statistics & Information

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Thank You

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Ksa banking industry a bpo perspective