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.
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