The Banking Executive Magazine - April 2023 Issue

ENBD ENBD UNVEILS NEW FACILITY FOR PRIORITY BANKING CLIENTELE Emirates NBD (ENBD), a leading banking group in the MENAT (Mid- dle East, North Africa and Turkey) re- gion, has introduced a new banking proposition within its Priority Bank- ing segment, to cater to its ultra-high- net-worth clientele. The strategic launch of Emirates NBD’s new Priority Banking propo- sition is a direct response to the rise of the UAE as the new hub for the ultra-wealthy. According to a report by management consultancy Boston Consulting Group, 41% of the UAE’s wealth in 2021 was derived from ultra-high-net-worth individuals (UHNWIs) and this share is expected to grow to 43% in 2026. The invite-only proposition aims to offer an enhanced banking experi- ence that matches the specific needs and objectives of ultra-wealthy cus- tomers maintaining an average bal- ance of AED7 million ($1.9 million) across deposits and investments. Yousuf Saeed Mohd, Senior Vice President, Head of Priority Banking and Retail Wealth Management at Emirates NBD, said: “As the UAE fast emerges as the destination of choice for ultra-wealthy individuals from across the world, we see this as an opportunity to support the advanced banking needs of this segment. This has encouraged the launch of our new niche, highly personalised value proposition, Signature by Priority Banking, created taking into careful consideration the preferences, lifestyles and expectations of our elite and affluent Priority Banking customers.” He added: “As a leading bank in the UAE established over 60 years ago with operations across the MENAT region, we have a unique under- standing of the wealth needs of UAE nationals and expatriates alike. This reach and legacy gives us the advan- tage to develop products and serv- ices tailored to meet the tastes and preferences of our customers across segments. Signature by Priority Bank- ing offers our Priority Banking cus- tomers an enriched banking experience with tailored solutions, distinguished lifestyle benefits and a customised consultative approach, staying true to Emirates NBD’s cus- tomer-centric philosophy.” The bank’s strategy behind launching the new priority banking proposition is to provide its elite customers in- creased value and an exceptional banking experience with a suite of distinctive tailored services, privi- leges and pricing benefits. Signature by Priority Banking clients will have access to the new Visa Infinite Debit card with superior benefits, coveted lifestyle-enriching features including a premium design with exclusive art- work by award-winning calligraphy artist and designer Wissam Shawkat. Signature customers will have access to a Senior Relationship Manager dedicated to understanding their per- sonalised banking needs, as well as a dedicated Senior Wealth Advisor to offer rich, deep insights for invest- ment and financial planning require- ments. In addition, they will have access to a host of products and serv- ice including Emirates NBD’s in- house derivative trading system, Lombard lending, offshore asset placement, foreign exchange solu- tions and much more. Beyond superior banking services, Signature by Priority Banking clients will also enjoy complementary membership to the Quintessentially Lifestyle Concierge Service offering a comprehensive range of benefits in- cluding business and leisure travel itinerary management, priority reser- vations at restaurants around the world, dedicated personal shopping and fashion experts, on-demand charter hire and rental and much more. the BANKING EXECUTIVE 42 ISSUE 172 APRIL 2023