Singapore bank DBS to ‘almost double’ Dubai private banking staff by 2023 – Gulf Business

DBS, Southeast Asia’s largest bank, said it would almost double its Dubai private banking staff in its bid to triple revenue for those operations in the Middle East by 2023, capitalising on a shift of investments towards Asia. The Singapore bank is joining Citibank and other global lenders expanding wealth management operations in the region. The prospective client base includes wealthy Middle East business people, family offices and non-resident Indians. Source: Singapore bank DBS to ‘almost double’ Dubai private banking staff by 2023 – Gulf Business

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CitiBank granted licence to open Abu Dhabi branch – ArabianBusiness.com

The Abu Dhabi Global Market (ADGM) has granted Citi a licence to set up a branch of Citibank NA at ADGM, it was announced on Tuesday. The visit was announced during a visit by Citigroup CEO Mike Corbat to Abu Dhabi. The branch is pending final approval from ADGM’s Financial Services Regulatory Authority (FSRA). Source: CitiBank granted licence to open Abu Dhabi branch – ArabianBusiness.com

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Abu Dhabi’s ADCB, Union, Al Hilal Bank in talks to merge – Gulf Business

Abu Dhabi is exploring the potential merger of three of its banks to create a lender with around $110bn of assets.Bloomberg first cited sources as confirming discussions to combine Abu Dhabi Commercial Bank (ADCB), Union National Bank and Al Hilal Bank. If successful a deal could be announced as early as this month, the sources said, emphasising that a final decision has yet to be made. Source: Abu Dhabi’s ADCB, Union, Al Hilal Bank in talks to merge – Gulf Business

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