Singapore private banks targeting NRI clients in the Middle East

Pedro Gonçalves
clock • 3 min read

The private banking sector in Singapore as set its eyes on the Middle East, with DBS Bank, Bank of Singapore and Citi aggressively ramping operations in the region with one goal: to target the rich and the non-resident Indian (NRI) segment in the Middle East. India has the largest diaspora population in the world, with as many as 16 million Indians living outside the country of their birth, says the United Nations report on migration trends. DBS plans to expand in the Middle East by doubling the number of private bankers there over the next five years, from more than 20 now, the bank sai...

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