Retail banking strategy to drive asset growth

11 June, 2019 12:00 AM printer

Dubai: Emirates Islamic’s balance sheet is dominated by retail banking assets and going forward, this will continue to be the key driver of both asset growth and profitability, said Wasim Saifi, Deputy CEO, Consumer Banking and Wealth Management at Emirates Islamic.

“While the majority of Emirates Islamic’s business is driven by the retail banking side, which is growing rapidly, there are also significant growth opportunities in wholesale banking,” said Saifi, report agencies.

For Emirates Islamic, there are three main growth drivers in the retail banking business such as Small and Medium Enterprises (SMEs), mortgages, and cards. SME-focused services are becoming a very important part of business for the bank, not just in terms of financing, but also on the transactional side.