Emirates NBD Private Banking has a proven track record across wealth management in the Middle East. The Dubai-based firm scooped several wins at this year’s Euromoney private banking awards across global wealth management.
It was named best regional private bank in the Middle East, plus best region-wide for digital solutions and ultra-high net-worth clients. It also walked away with a host of country-level prizes. In its home market of the UAE, Emirates NBD Private Banking was named best domestic private bank, best for digital solutions, and best for UHNWs.
In 2023, its retail-banking and wealth-management (RBWM) division generated revenues of Dh16.2 billion ($4.4 billion), with pre-tax profit up 7%, to Dh6.7 billion and total deposits up 13%, to Dh293 billion.
Tariq Mushtaq Chaudhary, group head of wealth management at Emirates NBD Private Banking, points to a “substantial growth” in assets under management in 2023, with client AuM jumping 45% year on year.
Key to Emirates NBD Private Banking’s continued success in wealth management is a push to expand its regional reach and raise its digital game.
Its core wealth-management offering includes investment advisory services, discretionary portfolio management, trust and estate planning, external asset-management services, and real estate advisory.
At its three offshore booking centres in London, Singapore and Saudi Arabia, the bank offers a host of bespoke private-wealth solutions. Its Lombard lending programme gives clients access to secured lending against liquid assets such as investment securities. In 2023, it introduced more than 350 new investment solutions to its private wealth portfolio, across equities, bonds and sukuk, structured products and exchange-traded funds.
Key to Emirates NBD Private Banking’s continued success in wealth management is a push to expand its regional reach and raise its digital game
Its status as a pre-eminent provider of wealth and lending services to UHNWs has soared in recent years, as Emirates NBD Private Banking positions itself as the obvious financial partner to wealthy families relocating to the region from the likes of Europe, south Asia and Africa.
Emirates NBD Private Banking has also emerged recently as a leader in wealth-related digital solutions. Its ‘Wealth 360’ platform gives clients a holistic view of their personalised portfolios, categorizing assets according to asset class, sector, currency and geography.
