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Emirates NBD (ENBD), the leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has launched a new banking proposition within its Priority Banking division to cater to the needs of its ultra-high net worth clients.
Emirates NBD’s new priority banking is a direct response to the UAE’s rise as a new hub for the ultra-wealthy. According to a report by management consultancy Boston Consulting Group, 41 percent of the UAE’s wealth will come from ultra-high-net-worth individuals (UHNWIs) in 2021, a proportion that is expected to grow to 43 percent by 2026.
The invitation-only offer aims to provide an enhanced banking experience to meet the specific needs and goals of ultra-wealthy clients who maintain an average balance of AED7 million (US$1.9 million) in deposits and investments.
Yousuf Saeed Mohd, Senior Vice President and Head of Priority Banking and Retail Wealth Management, Emirates NBD, said: “With the UAE rapidly becoming the destination of choice for the world’s ultra-wealthy, we see an opportunity to support the segment’s premium banking needs. Encouraging us to launch a new niche, highly personalized value proposition, Signature by Priority Banking, created with careful consideration of the preferences, lifestyles and expectations of our elite and affluent Priority Banking customers.”
He added: “As the UAE’s leading bank, established over 60 years ago with operations across the MENAT region, we have a unique understanding of the wealth needs of UAE nationals and expatriates. This reach and heritage gives us the advantage to develop tailor-made Tailor-made products and services to meet the tastes and preferences of customers in various market segments.Signature by Priority Banking provides our Priority Banking customers with rich Banking experience, adhering to Emirates NBD’s customer-centric philosophy.”
The strategy behind the bank’s new priority banking proposition is to deliver enhanced value and an exceptional banking experience to its elite customers through a unique set of bespoke services, privileges and pricing advantages. Signature by Priority Banking customers will have access to the new Visa Infinite debit card with superior benefits, coveted lifestyle-enriching features, including premium designs and exclusive art by award-winning calligraphy artist and designer Wissam Shawkat Taste.
Signature clients will have access to a Senior Relationship Manager dedicated to understanding their individual banking needs, as well as a dedicated Senior Wealth Advisor providing rich, deep insights into investment and financial planning requirements. In addition, they will have access to a range of products and services including Emirates NBD’s in-house derivatives trading system, Lombard lending, offshore asset allocation, foreign exchange solutions and more.
In addition to exceptional banking services, Signature by Priority Banking clients will enjoy supplemental membership to the Quintessentially Lifestyle Concierge service, which offers comprehensive benefits including business and leisure travel itinerary management, global restaurant priority reservations, exclusive personal shoppers and fashion experts , on-demand hire and lease, and more. – trade arab news agency
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