Archives: Articles & Interviews

By weaving environmental action into everyday finance, the bank is crafting a new narrative for Islamic digital banking in the region

In a region where sustainable banking is becoming a strategic lever for differentiation, the UAE’s Ruya has taken a bold leap by embedding environmental conservation directly into its customer savings model. The bank’s launch in 2024 of the NatureProtect initiative reflects a broader ambition to align Islamic financial values with real-world action, positioning itself as both a digital challenger brand and thought leader in ethical Islamic banking.

Purpose meets product

NatureProtect means that for every AED 1,000 ($272.30), Ruya conserves a square foot of primary forest for 10 years. This linkage between deposits and conservation is more than symbolic as it is operationalised within the Ruya app, where users can track their ‘Forest Conservation’ balance alongside their financial one. In doing so, Ruya ensures sustainability is not just a corporate message but a customer experience.

The environmental returns from NatureProtect are equally tangible. By safeguarding primary forests – vital carbon sinks and biodiversity hotspots – Ruya is helping mitigate emissions and support global climate action. These outcomes are verified through partnerships with internationally recognised conservation organisations, lending credibility and impact to every customer contribution.

Customer-led innovation

Ruya’s vision of environmental stewardship is not just corporate; it is deeply participatory. According to internal survey data, 85% of customers said the NatureProtect programme influenced their decision to bank with Ruya. This early traction is underpinned by the 60,000 customers and within the first year of the initiative’s launch. NatureProtect has successfully driven not just engagement but loyalty, particularly among younger and sustainability-conscious demographics.

Building systems, not slogans

Behind the scenes, Ruya has tackled key challenges to make NatureProtect viable, from forging partnerships with reputable conservation organisations to addressing customer education around green banking. The result is a solution that balances environmental integrity with business growth.

In-app education and campaigns have helped bridge awareness gaps, while internal alignment has ensured environmental goals have not come at the cost of financial performance. This approach has not only ensured operational feasibility but also established a scalable blueprint for integrating corporate social responsibility (CSR) into core banking operations.

A model for future banking

NatureProtect is helping shift expectations around what a digital bank can achieve, not just through product innovation but through purpose-led business design. The initiative has already influenced other institutions in the region to consider similar programmes, further amplifying its impact. By connecting financial behaviour with environmental responsibility, Ruya is demonstrating a scalable, values-driven path for digital banks – one that blends profit with purpose.

These achievements have seen Ruya Bank recognised with the Best CSR Initiative award at the Mena Banking Excellence Awards 2025 – Retail, Digital & SME.

The bank is setting a new standard for retail banking in Kuwait through integrated payment innovation, streamlined lending and the country’s most expansive SME banking platform
Across the Gulf, banks are navigating a sharp pivot toward digitalisation, financial inclusion and SME growth as national development strategies accelerate. National Bank of Kuwait (NBK) has emerged as a market leader by translating these priorities into a cohesive retail banking strategy; one that combines fintech-driven innovation, digital-first lending and deep-rooted SME support.

NBK has positioned its mobile app at the core of its banking ecosystem, with digital financial transactions increased sixfold in the past five years maintaining 91% customer satisfaction rate.

Reimagining payments
NBK has reshaped contactless banking with full wallet integration with Apple Pay, Samsung Pay, Fitbit and more, across its 20+ debit, credit and prepaid cards. Real-time P2P transfers are enabled via Quick Pay and QR payments. Regionally, the bank has launched AFAQ, the GCC’s unified payment system, for cross-border transfers and WAMD for instant domestic transactions. Its acquisition of uPayments has enabled bank-agnostic gateways and frictionless SME checkout experiences.
SMEs benefit from commercial cashback cards, tailored debit solutions and relationship management via WhatsApp. Initiatives such as Business Banking Plus and a Virtual Relationship Officer hub combine scale with personalised service.

Lending redefined
NBK’s digital loan journey from application to repayment now takes just two days, with projected growth of over 20% in the coming year driven by customer demand for speed and convenience. Its loan portfolio spans personal, SME and green finance, with products including electric vehicles (EV) and energy-efficient home loans.

Retail at every touchpoint
NBK’s multi-channel strategy offers seamless customer access. The bank runs with specialised branches for high-net-worth and underbanked segments. Flagship products such as the 247 cashback Visa Platinum Prepaid Card and the Al Jawhara Saver range, including the country’s first prize-linked junior account, show NBK’s focus on full lifecycle engagement.

The bank’s strategic execution has earned it five honours at the Mena Banking Excellence Awards 2025 – Retail, Digital & SME: Best Retail Bank – Kuwait, Best SME Bank – Kuwait, Best Contactless Payment Experience, Best Payment Solution for SMEs and Best Loan Offering.

Mena Retail Banker of the Year: Mohammed Al-Othman
Few bankers in the region have shaped the future of retail banking quite like Mohammed Al-Othman. As CEO of consumer and digital banking at NBK and chairman of Kuwait National Electronic Banking Services Company (KNET), Al-Othman has fused scale, technology and strategic foresight to modernise Kuwait banks and change what customers expect from their financial institutions.
At the heart of his vision is Weyay, Kuwait’s first fully digital bank. Born from a bold bet on digital-native banking, Weyay has not only captured the Gen Z segment, it has set the standard for what branchless banking can deliver. Under Al-Othman’s leadership, NBK has also deployed more than 150 mobile features, launched Kuwait’s first cashback commercial card for SMEs and reimagined flagship propositions such as Al-Jawhara with new savings tiers and prize mechanics.

Yet his impact extends beyond product. By modernising NBK’s global contact centre with the latest technology into a revenue contribution channel and pushing for wallet and QR integration through KNET, Al-Othman has laid the groundwork for Kuwait’s broader cashless transition. He leads a team of more than 1,800 and oversees Kuwait’s largest retail banking network – a scale matched by his appetite for change.

The Mena Retail Banker of the Year award recognises not just innovation, but influence. Al-Othman’s leadership has delivered measurable gains for NBK and set a precedent for retail banking transformation across the Mena region.

Backed by rapid expansion, lifestyle-linked products and app-led engagement, the bank is redefining how mobile-first banks compete at scale across the Mena region
As the Mena banking industry pivots towards hyper-personalisation and mobile-first services, digital-only banks are no longer seen as niche challengers but as core innovators. Bahrain’s Ila Bank, launched in 2019 as the region’s first cloud-native mobile bank, has since proven fully digital models can drive both customer satisfaction and measurable impact. This is particularly notable in markets historically reliant on branch-led banking.

Ila Bank’s strategy has centred on removing friction across the customer journey. Its mobile platform, rebuilt over 154 releases since launch, including 47 in 2024, now enables everything from three-minute digital onboarding to eight-currency cards and seamless local and international transfers. With tools such as Hassala automated saving pots, Jamiyah social saving solution and Al Kanz prize-linked accounts, the bank has reframed saving as an intuitive and rewarding experience.

Expanding ecosystem
In 2024, Ila Bank introduced a series of enhancements including a flexible Easy Payment Plan, Samsung Wallet integration and monthly payout options for fixed deposits and Islamic investments. The launch of the Ila Rewards programme has brought customisation to the forefront, enabling users to toggle between cashback, air miles and lifestyle redemptions. The bank has also introduced a digital gateway for investing in government securities, eliminating paperwork and offering real-time updates with zero custody fees.

Wider impact
Beyond features, Ila Bank’s scale and demographic reach have grown significantly. The bank now serves more than a third of Bahrain’s bankable population and had processed 14.4% of the country’s Fawri+ bank transfers by May 2024. Customer onboarding rose by 530% in 2023, with notable traction among previously underserved groups. Customers aged 50 and above, traditionally less engaged with mobile banking, grew by 679% in just one year. The bank’s app maintains a 4.8 rating on the Apple Store and 4.5 on Google Play.

Regional momentum
Following strong performances in Bahrain and Jordan, a key milestone was the launch of the Bank ABC app in Egypt leveraging Ila’s digital capabilities. Ila Bank also has plans for further expansions into Algeria and Tunisia. This regional push aligns with its mission to expand access to secure, mobile-first banking services in markets with limited digital penetration. Backed by parent group Bank ABC, Ila Bank is building a retail footprint that pairs agile product development with large-scale ambition.

Recognised for reshaping the consumer banking landscape, Ila Bank has been named Mena Retail Bank of the Year at the Mena Banking Excellence Awards 2025 – Retail, Digital & SME for its bold reinvention of retail finance in the digital age.

With a unified strategy across ESG, SME, digital and employee excellence, RHB Bank is redefining what it means to be Malaysia’s leading retail bank
Amid rising competition, evolving customer expectations and the push for sustainable growth, Malaysia’s RHB Bank is positioning itself as a future-ready institution with a multi-pronged strategy. Anchored in its ‘Together We Progress 24’ strategy, which concluded in the financial year 2024, RHB prioritised ESG integration, SME enablement, digital modernisation and a culture of performance – transformations that have now been validated by industry recognition.

Sustainable ambition
At the heart of RHB’s transformation is sustainability. The bank exceeded its RM20bn ($4.5bn) green financing target three years ahead of its 2026 goal, recording RM23.8bn by the end of 2023. It has since doubled the ambition to RM50bn. Green home financing rose 45% year-on-year to RM2.08bn and electric vehicle (EV) financing grew 122%. These outcomes signal a clear pivot towards decarbonising Malaysia’s financial ecosystem while meeting rising demand for responsible products.

SME as a growth engine
RHB’s reimagined SME proposition includes an online financing platform and dedicated ESG mentoring. The bank mobilised RM2.1bn in sustainable SME financing by mid-2024 and channelled RM411m through Malaysian central bank – Bank Negara’s Low Carbon Transition Facility. More than just a financier, RHB acts as an enabler, hosting ESG roadshows, educating entrepreneurs and embedding sustainability into the operational DNA of the country’s SME base.

Internet banking redefined
Digital transformation underpins RHB’s market responsiveness. With 2.8 million customers onboarded to online banking, the bank now records RM174m in monthly digital transactions. Its enhanced internet banking platform features balance transfers with personalised rates based on customer credit profiles and 80% of such transactions are now fully online. This shift not only optimises operations but delivers greater transparency and control to users.

Culture of performance
Internally, RHB fosters excellence through structured recognition. The High Performance Culture (HPC) Champions and Asset Elite Club programmes reward staff for both business outcomes and values-based contributions. Meanwhile, innovations such as the AI-powered ‘RHB Ask’ chatbot are freeing up an estimated 40,000 man-hours annually, allowing front-liners to focus on service delivery.

These efforts have been recognised at the Retail Banker International Asia Trailblazer Awards 2025, with wins in the Excellence in SME Banking, Excellence in Employee Recognition, Excellence in Internet Banking and Best Advance in Sustainability Practices categories.

Together, these awards recognise RHB Bank’s commitment to balancing profitability and purpose in a fast-evolving banking landscape and laying a strong foundation for its next phase of growth under the newly launched 3-year PROGRESS27 strategy, setting the stage for continued transformation and long-term value creation.

With a dual focus on enabling environmental and social governance (ESG) compliance and inclusive impact, Maybank Singapore is helping SMEs future-proof their businesses
As regulatory pressure mounts across Asia to enhance environmental disclosures and sustainability credentials, banks are increasingly expected to act as enablers, particularly for small and medium-sized enterprises (SMEs), many of which struggle with ESG compliance due to limited resources or know-how. In Singapore, where the SGX stock exchange has set mandatory emissions disclosure timelines, Maybank Singapore, a subisdiary of Maybank Group, has moved ahead of the curve by creating an ecosystem that not only addresses compliance requirements but also actively accelerates environmental transformation.

Platform for progress
The growing importance of emissions disclosure for SMEs is driven by regulatory, customer, supply chain and investor expectations. These stakeholders increasingly demand transparency and accountability from businesses regarding their environmental impact.

Launched in November 2024, the Maybank myimpact SME ecosystem is Maybank Singapore’s flagship programme to help SMEs align with sustainability goals while ensuring business viability. More than a financial offering, it acts as a one-stop ESG enabler, providing tools, advisory services, access to sustainable technologies and readiness assessments. The tool provides tailored recommendations and a roadmap to help SMEs advance their sustainability practices, including areas related to emissions management and reporting. Its cornerstone is a bespoke ESG Readiness Assessment Tool co-developed with the Netherlands’ KPMG, which assesses an SME’s state of green readiness and recommends concrete steps based on whether they are ‘Developing’, ‘Evolving’ or ‘Trailblazing’.

Building partnerships
Where the Maybank myimpact SME programme truly differentiates itself is in its ecosystem approach. Maybank Singapore has forged strategic partnerships with ESG-focused platforms such as ESGpedia and Gprnt, as well as hardware and advisory services providers in electric vehicles, solar energy and clean technology. This ecosystem model ensures SMEs can move beyond theory into practice, whether transitioning vehicle fleets, reducing energy intensity or leveraging grants and training. Maybank has also ensured social sustainability is embedded into the framework. The Maybank HERpower programme, part of the Maybank myimpact SME ecosystem offers tailored solutions for women-led businesses – an inclusive move that aligns with ESG’s ‘Social’ dimension and helps address underrepresentation in business leadership.

Leading from the front
Public engagement has been core to this strategy. Maybank Singapore has showcased its thought leadership at events such as the Singapore Fintech Festival, while also holding targeted forums with SME leaders to foster dialogue and ensure relevance. These touchpoints affirm that sustainability is not just a mandate but an opportunity for shared value creation.

As a result of this strategic approach, which combines regulatory foresight, partnership-led enablement and inclusive innovation, Maybank Singapore has won the Best ESG Strategy and Best CSR Initiative – Environmental Impact titles at the Retail Banker International Asia Trailblazer Awards 2025.

In an era where global private banking is intensifying its focus on personalised, high-efficiency services, demand for wealth management has surged.

The global asset management industry experienced an impressive  rebound in 2023, with total assets under management (AUM) rising to nearly $120tn. This represents an increase of 12% compared with 2022, a year that saw AUM plummet by 9%, according to the US’ Boston Consulting Group.

In response, leading institutions are adopting innovative solutions to capture a growing and increasingly diverse client base, as well as improve operational efficiency and bolster customer satisfaction. Brazil’s Bradesco Global Private Bank (BGPB) exemplifies this shift, leveraging strategic acquisitions, technological investments and a clientcentred approach to meet the evolving demands of private banking.

ACHIEVEMENTS

In 2023, BGPB reported R$450bn ($79.3bn) in AUM, with a 21.3% market share within the Brazilian
private banking industry. This growth, representing a 150% increase since 2017, underscores the bank’s effective strategies, strong client trust and operational strength. Alongside asset growth, BGPB also achieved a cost/ income ratio of 44.7%, illustrating high operational efficiency.

Moreover, BGPB has actively invested in technology and innovative solutions, centralising these efforts
through Inovabra, its innovation hub.

Forging partnerships with cutting-edge technology providers and deploying a customer relationship management (CRM) system powered by the US’ Salesforce, the bank has been able to develop a 360º client view, enabling personalised offerings and enhancing customer services.

These advancements reflect BGPB’s proactive approach to integrating technology in private banking,
contributing significantly to its growth and customer satisfaction.

IMPACT AND RESULTS

BGPB’s efficient operations have been directly reflected in client satisfaction levels, which rose by 132% between 2021 and 2023. Currently, the bank serves 9,300 family groups across 21,000 clients,
with dedicated teams of specialists focusing on personalised wealth, tax and succession planning.

The bank’s client-centred approach is reinforced by its retention strategy. Boasting an annual staff retention rate of 13.3%, BGBP ensures consistent and high-quality service for its clients. This
strategy emphasises both organic growth and strategic acquisitions.

BGBP has further strengthened its market position by acquiring the Brazilian private banking operations of France’s BNP Paribas and the US’ JP Morgan. These acquisitions are part of the bank’s
ambitious goal to grow its private banking market share from 22% to 30% in the coming years.

These acquisitions have not only broadened BGPB’s client base but have also enhanced its service range, allowing for customised offerings tailored to the needs of customers in various regions.

CONCLUSION

BGPB’s achievements over the past year reflect a well-rounded approach to growth and service excellence. Its investment in technology, commitment to client satisfaction, and strategic acquisitions underscore a model of private banking that blends tradition with innovation.

The bank’s sustained focus on talent retention and its dedication to offering customised solutions have strengthened its position as a trusted private banking leader. By aligning its goals with global
market demands, BGPB sets a strong foundation for continued growth and influence within the sector.

UAE bank Mashreq has announced the launch of its External Asset Management (EAM) coverage desk, which provides expert guidance and personalised services to external asset managers across the Middle East.

The desk builds on Mashreq’s Private Bank’s capabilities, enabling the bank to meet the growing demand for services from family offices and ultra-high-networth individuals (UHNWIs).

The move highlights how Mashreq has consistently led the way in innovation, catering to evolving trends and customer demands across the financial spectrum. In 2020, building on its strong foundation in wealth management, Mashreq’s Private Banking division became one of the region’s first banks to introduce a dedicated family office desk.

Adding the EAM coverage desk to the division further enhances Mashreq’s ability to provide specialised services to the private banking segment, demonstrating the bank’s commitment to supporting clients with diverse and complex financial needs.

The EAM desk adopts Mashreq Private Banking’s service excellence approach, where each EAM – and subsequently their clients – benefits from a dedicated team of relationship managers, customer service managers and investment specialists.

Serving clients across the globe, the desk caters to the growing independent wealth sector, offering bespoke investment solutions tailored to the distinct needs of each customer.

“The launch of the EAM desk at Mashreq Private Banking significantly reinforces our commitment to providing innovative and bespoke wealth management solutions,” says Vipul Kapur, head of Mashreq Private Banking.

“This new platform will allow us to deepen our collaboration with external asset managers, offering their clients enhanced flexibility and access to global markets. With Mashreq’s expertise, digital innovations and strong regional and global presence, clients will benefit from a seamless one-stop solution for banking and sophisticated wealth management. By offering customised strategies and a unique service model, [the] EAM desk is comprehensively equipped to assist clients in achieving their financial goals with confidence.”

Navin Chokhani has been appointed to lead the desk, along with his current role managing the Mashreq Private Banking value proposition.

The EAM desk’s wide range of services, including access to multicurrency accounts, dynamic financing solutions and Lombard lending, enables customers to manage and expand their wealth efficiently.

Furthermore, Mashreq’s international market offerings include investment opportunities across funds, bonds, local and global equities, structured products, and local initial public offerings (IPOs), offering clients a comprehensive toolkit for wealth optimisation.

This also benefits the growing number of affluent clients who have recently moved to the UAE and continue to relocate. It allows them to maintain their established advisory teams and seamlessly leverage Mashreq’s EAM model without disrupting their existing structure.

“The launch of the new EAM desk is expected to be a game-changer for the UNHWI client segment, underscoring Mashreq’s commitment to exceptional service and solidifying our position in the competitive private banking landscape,” says Kapur.

“As the financial needs of UHNWIs evolve, Mashreq’s continuous innovation – and adaptation of our offerings to provide tailor-made solutions – cements our position as a leader within the market.”

Bespoke financial solutions and strong investment banking capabilities are driving entrepreneurial growth in a competitive market

The private banking sector has witnessed a paradigm shift in recent years, driven by the rapid digitisation of financial services and evolving client expectations. Banks are increasingly leveraging technology to offer personalised, seamless and efficient services to high-net-worth individuals (HNWIs). As the global wealth management landscape becomes more competitive, the ability to provide an integrated suite of digital solutions has become critical.

In 2023, Mashreq’s financial performance reflected this trend, with a remarkable 130% surge in net profit to AED8.6bn. Through innovative platforms and a customer-centric approach, Mashreq’s private banking arm contributes to this success by ensuring its customers receive top-tier, tailored financial solutions in an increasingly digital world.

Achievements

In 2023-24, Mashreq undertook significant initiatives to enhance its private banking, focusing primarily on integrating cutting-edge technology with its wealth management offerings. The bank recognised the growing demand among affluent clients for a comprehensive, digital-first approach to managing their wealth.

In response, Mashreq launched a web-based digital platform that enables clients to trade equities, foreign exchange (FX) and commodities across multiple exchanges. This platform not only offers access to securities but also provides clients with technical analysis and charting tools to aid in optimal decision-making. Additionally, the bank expanded its execution capabilities, allowing customers to trade over 150,000 funds and access local and international equities across 32 markets.

The bank has also introduced tailored structured solutions and thematic portfolios, designed to meet its clients’ unique investment requirements. These solutions, customisable across various terms, markets and risk profiles, offer access to select markets that are otherwise inaccessible, underscoring Mashreq’s ability to cater to the nuanced needs of HNWIs.

Impact and Results

The impact of these initiatives has been profound. By leveraging technology to enhance its private banking offerings, Mashreq Private Banking has strengthened its position as a leading wealth management provider in the region. The bank’s digital platform has empowered clients with greater control over their investments, resulting in higher client satisfaction and increased engagement.

Additionally, introducing innovative investment solutions has enabled Mashreq to attract and retain clients with diverse investment profiles, contributing to the bank’s overall growth in assets under management (AUM).

Mashreq Private Banking’s focus on digital agility and real-time data access has also translated into tangible benefits for its relationship managers (RMs). The development of the Face app, a one-stop tool for RMs, has streamlined the customer servicing process, allowing RMs to provide more meaningful insights and personalised services to clients. This, in turn, has enhanced the bank’s ability to meet the evolving needs of its private banking clients, further solidifying its reputation for excellence in wealth management.

Conclusion

Mashreq Private Banking’s achievements over the past year exemplify the importance of embracing digital transformation in today’s competitive financial landscape. As the bank continues to innovate and evolve, it is well-positioned to maintain its leadership and drive further growth in the years to come.

The wealth management firm has strengthened its alternative portfolio and solidified its leadership in the development of timely investment products

In 2023, the private banking landscape saw a significant shift towards alternative investment strategies, driven by rising interest rates and increased market volatility. This prompted wealthy clients, especially ultra-high-net-worth individuals (UHNWIs), to diversify their portfolios beyond traditional assets.

Private credit, for instance, became an attractive option, delivering returns of 13.5%, according to analysts at US-based research firm PitchBook. This demand for higher returns pushed wealth managers to innovate, offering specialised investment vehicles.

Achievements

India’s Nuvama Private has responded to this environment by positioning itself as a leader in innovation, offering customised solutions to meet the evolving needs of its clients.

One of the key highlights of the private wealth firm’s achievements over the past year has been its introduction of alternative investment funds (AIFs) specifically designed for UHNWI customers.

These funds are focused on operating assets such as infrastructure, commercial office parks and warehousing.

Additionally, in response to the prevailing high-interest rate environment, the company has launched special-situation and performing credit funds. These funds have been designed to leverage current market conditions, offering clients opportunities to benefit from higher yields.

Nuvama Private has also placed a significant focus on co-investment opportunities where customers are given access to highly curated investment vehicles in performing credit funds, venture capital and commercial office parks.

The strategic introduction of these funds has helped clients diversify their portfolios while mitigating risks.

Impact and Results

Nuvama Private offers alternative investments outside of traditional asset classes like stocks, bonds and cash, which can offer diversification and potentially higher returns. These investments typically include assets such as private equity, hedge funds, real estate, commodities, private debt and venture capital. By capitalising on macroeconomic trends, Nuvama Private has strengthened its alternative portfolio and solidified its leadership in the development of timely investment products.

Moreover, the firm’s technological innovation, including the use of Whatsapp communication service, has empowered clients with seamless and real-time access to their portfolio, financial transactions (approvals) and reports. The digital platform has seen a 158% increase in usage and the company’s mobile app, rated 4.7 stars, boasts a 99.99% crash-free performance, enhancing client satisfaction.

Conclusion

Nuvama Private’s strategic initiatives underscore its ability to navigate complex market conditions while anticipating customer needs.

By focusing on high-performing alternative investments and leveraging digital innovations, the firm effectively bridges the gap between traditional private banking and the evolving demands of UHNWIs. The integration of technology not only enhances operational efficiency but also positions Nuvama Private as a forward-thinking leader in client engagement.

These achievements reflect its long-term vision: to remain adaptable and client-centric in a rapidly changing financial landscape.

UBS is well-positioned to leverage its scale and OneBank offering to cement its foothold in the Asia-Pacific region

The world is getting progressively richer across all wealth segments, with an estimated $83tn in wealth set to be passed on in the next 20-25 years, according to the Global Wealth Report 2024 by Swiss bank UBS. Today, three of five billionaires in the region are banking with UBS.

Amid this significant transfer of capital and market growth, UBS has emerged as a leading player by capturing the key trends of global wealth creation and by expanding client relationships.

The bank has also strategically positioned its Apac wealth management arm to capture this opportunity by leveraging its expanded footprint and OneBank capabilities to build client trust and drive profitability. The OneBank approach caters to the complex needs of entrepreneurs, family offices and corporate clients that go beyond wealth management.

Achievements

UBS’s wealth management arm in the Apac region has demonstrated impressive growth in recent years, especially in 2023 and 2024. The region accounts for a significant portion of the bank’s global wealth management (GWM) assets, totalling $627bn out of the more than $4tn the bank manages globally.

The second quarter of 2024 was particularly notable as the Apac region contributed $8.2bn of UBS’s $26.9bn of global net new assets (NNA), making it the fastest-growing region in terms of NNA over the past 12 months. In 2023, one of UBS’s standout achievements was the smooth integration with Swiss bank Credit Suisse, a merger that boosted UBS’s business and coverage in the Apac region. The combined entity now boasts an even more diversified footprint across key markets including Australia and India.

Coupled with its global coverage and capabilities, UBS is in a unique position to present clients with an enhanced global offering, broader geographical reach and scale, and access to greater expertise.

A key example is the bank’s Global Family and Institutional Wealth (GFIW) unit, which adopts the OneBank approach. This year, UBS has also consolidated its client solutions into a single construct – GWM Solutions – bringing together teams from GFIW, Global Investment Management, Unified Global Markets and the Global Lending Unit. This streamlined approach has allowed the bank to deliver services to customers more holistically and efficiently.

Impact and results

The results of UBS’s efforts in the Apac region have been profound and the trust and confidence that clients place in the bank has been reflected in its financial performance. UBS continues to maintain its financial strength and stability, while profitability has significantly improved, with GWM Apac’s profit before tax reaching $315m in the first quarter of 2024 and $310m in the second quarter.

On the integration front, the bank has geared up to start migrating Credit Suisse Wealth Management clients to the UBS infrastructure this year, starting with the Apac region. This will pave the way for UBS to deliver the full strength of its combined organisation to clients.

Conclusion

UBS’s global scale and expanded connectivity as well as its OneBank offering have enabled it to drive profitability while strengthening client relationships across the region.

As the bank continues to increase collaboration within the organisation and reap the synergies of its combined franchise, it is well-positioned to extend its growth and lead in the Apac region in the years to come.