French lender Natixis CIB expects double-digit growth in Middle East and Asia despite war uncertainty

French lender Natixis Corporate and Investment Banking (CIB) anticipates double-digit growth in its Middle East and Asia operations this year and next, despite the geopolitical uncertainty caused by the Iran war and contracting economies in the region. Natixis CIB, which has grown double digits over the past five years in the region, plans to expand its workforce and capabilities in markets such as the UAE and Saudi Arabia, according to Bruno Le Saint, chief executive of Natixis CIB for Asia Pacific and Middle East.

The bank expects its business in the broader Middle East to grow by at least 10% next year, despite economic challenges brought on by the war. Natixis CIB is also considering expanding into Turkey, a significant economy in the region. The company currently provides services to clients in markets including Oman and Turkey and covers Central Asia from its Dubai hub.

Natixis CIB, part of Groupe BPCE, the eurozone's fourth-largest banking group, sees growth opportunities in sectors such as telecoms, energy, infrastructure, metals, and mining, aligning with Saudi Arabia's Vision 2030 agenda. The bank remains optimistic about its growth prospects in the Middle East, despite the economic uncertainty, and believes it can capture market share at a time when others may not be as focused on growing in the region.