French lender Natixis CIB expects double-digit growth in Middle East and Asia despite war uncertainty
French lender Natixis Corporate and Investment Banking expects double-digit growth in its Middle East and Asia business this year and next, despite the uncertainty driven by the Iran war and contracting economies. The lender, which has grown in double digits over the past five years in the region, has not been deterred by the geopolitical headwinds . It plans to hire more bankers across the…
French lender Natixis Corporate and Investment Banking (CIB) anticipates double-digit growth in its Middle East and Asia business for the coming years, despite geopolitical uncertainty caused by the Iran war. Natixis CIB, part of the eurozone's fourth-largest banking group Groupe BPCE, has experienced double-digit growth over the past five years in the region.
CEO Bruno Le Saint stated that the bank aims to expand its workforce and capabilities in markets such as the UAE and Saudi Arabia. The bank plans to hire more bankers across these businesses in the region, including the UAE and Saudi Arabia, where it currently operates. Le Saint emphasized the bank's confidence in its growth prospects, stating that even though some economies in the region are contracting, Natixis CIB has not reached its natural market share.
The bank is particularly optimistic about the UAE and Saudi Arabia, seeing potential for further expansion, especially in light of the country's Vision 2030 agenda. Natixis CIB is also exploring expansion into Turkey, a significant economy in the region. Despite a slowdown in the regional debt capital market, Natixis CIB remains optimistic, attributing the slowdown to borrowers waiting for more favorable conditions rather than a lack of liquidity.
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