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June 29, 2022

NBO launches private banking proposition to serve wealthy customers

National Bank of Oman (NBO) has launched a private banking platform to expand offerings for its high-net-worth (HNW) customers, the Times of Oman has reported.

Free Report
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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The new proposition will address the banking and financial advisory needs of NBO customers by offering them “comprehensive and holistic solutions”.

The bank’s team of consultants will leverage the latest technology, industry insights and analysis to assist clients towards long-term financial well-being.

According to NBO head of private banking Ali Mustafa Al Lawati, the new service is a valuable addition to the bank’s growing premier segment.

NBO’s private banking platform will roll out a spectrum of investment and wealth management products and services that will enable customers the opportunity to invest in a range of products to leverage market opportunities.

These will include global investment funds and structured products, the report said.

Additionally, the platform will offer products and services such as securities brokerage, systematic investment plans, global investment advisory, trade execution, wealth planning, trust services and financing across a range of options.

Al Lawati was quoted as saying about the development: “Our new Private Banking proposition marks a major milestone in our 50-year legacy, setting the benchmark for personalised banking in Oman.

“Our premium banking services are designed to meet the unique wealth management requirements of our customers, offering personalised wealth advisory with exclusive access to the latest investments and products.”

“We look forward to working closely with our clients to support them in reaching their investment and financial goals,” he added.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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