jumped 71 per cent last year as the
attract funds from politically troubled countries in the
other emerging markets, the National stated.
Total assets under
management increased to Dh4.26 billion last year from Dh2.49bn in 2012,
the boutique investment and private bank said. Net profit last year
increased 38 per cent to Dh36.2 million compared with Dh26.3m in 2012,
while customer deposits more than doubled to Dh1.67bn from Dh800m.
the fourth quarter alone, net profit gained 69 per cent to Dh5.6m, EIB
the successful Expo 2020 bid," said
emerged as a safe haven for regional and international assets. As a
funds from clients, investment banking in the region has been increasingly
active with EIB's team seeing more mergers and acquisitions. He said that
trend would likely continue this year.
EIB's private banking
services have been bolstered in recent years as wealthy individuals in the
region shifted money from offshore accounts in a bid to get closer and
more personalised services.
"The growth in our private banking
business has been tremendous as we continue to see a great deal of
interest from high net worth individuals from the region and
investment solutions and superior client servicing has allowed us to grow
the assets under our management to new unprecedented levels."
capital inflows from the region and other emerging markets, such as
into bank accounts, property and stocks.;
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