Emirates NBD PJSC (EMIRATES), the United Arab Emirates’ biggest bank by assets, seeks to boost revenue from its retail business by as much as 15 percent next year and has board approval to hire 200 staff to expand the business.
Revenue will be driven mainly by the bank’s small and medium-sized company business as well as growth in personal banking products like credit cards and wealth management as Dubai’s economy rebounds, Suvo Sarkar, Emirates NBD’s head of retail banking, said in an interview in Dubai yesterday. The company will also add relationship managers in its small and medium enterprise business and sales staff, he said.
“Retail is a key growth sector for the bank,” Sarkar said. “You will see us being more aggressive on small and medium enterprise lending in the future than we have been in the past,” he said.
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