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Emirates NBD Launches Signature by Priority Banking for Ultra-Wealthy Clients in the UAE

by CEO Editorial Team

April 24, 2023 1

Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has launched a new banking proposition within its Priority Banking segment, catering to its elite and affluent Priority Banking clientele. The new proposition, called ‘Signature by Priority Banking’, is an exclusive, invite-only offering designed to provide an enhanced banking experience that matches the specific needs and objectives of ultra-wealthy customers who maintain an average balance of AED 7 million across deposits and investments.

This launch is a direct response to the growing number of ultra-high-net-worth individuals (UHNWIs) in the UAE. According to a report by management consultancy Boston Consulting Group, 41% of the UAE’s wealth in 2021 was derived from UHNWIs, and this share is expected to grow to 43% in 2026. With the rise of the UAE as the new hub for the ultra-wealthy, Emirates NBD sees this as an opportunity to support the advanced banking needs of this segment.

Yousuf Saeed Mohd, Senior Vice President, Head of Priority Banking and Retail Wealth Management at Emirates NBD, stated that Signature by Priority Banking was created taking into careful consideration the preferences, lifestyles, and expectations of the bank’s elite and affluent Priority Banking customers. He added that as a leading bank in the UAE with a unique understanding of the wealth needs of UAE nationals and expatriates alike, Emirates NBD has the advantage to develop products and services tailored to meet the tastes and preferences of its customers across segments.

Signature by Priority Banking offers its Priority Banking customers an enriched banking experience with tailored solutions, distinguished lifestyle benefits, and a customised consultative approach, staying true to Emirates NBD’s customer-centric philosophy. Clients will have access to a Senior Relationship Manager dedicated to understanding their personalised banking needs, as well as a dedicated Senior Wealth Advisor to offer rich, deep insights for investment and financial planning requirements. In addition, they will have access to a host of products and services including Emirates NBD’s in-house derivative trading system, Lombard lending, offshore asset placement, foreign exchange solutions, 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 including business and leisure travel itinerary management, priority reservations at restaurants around the world, dedicated personal shopping and fashion experts, on-demand charter hire and rental, and much more.

Clients will also have access to the new Visa Infinite Debit card with superior benefits, coveted lifestyle-enriching features including a premium design with exclusive artwork by award-winning calligraphy artist and designer Wissam Shawkat.

The launch of Signature by Priority Banking is part of Emirates NBD’s strategy to provide its elite customers increased value and an exceptional banking experience with a suite of distinctive tailored services, privileges, and pricing benefits. The bank is committed to supporting the advanced banking needs of the ultra-wealthy in the UAE, and with the launch of Signature by Priority Banking, it is taking another step in this direction.