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Customers are looking to diversify towards gold, international equities andreal estate as lowinterest rates are expectedto prevail in the near future


ABDULNASIRAL-RAISI BANK MUSCAT Ongoing investment in technology


has led to the introduction of a number of digital innovations, such as the launch of theMy360 app. The app provides a consolidated viewof a client’s entire financial life across more than 20,000 global financial institutions, fromone touch point. “Clients can track and access


asset, liability and risk cover regardless of the institution, geography or the insurerwhere accounts reside,” explains Busola Jejelowo, head, wealth and investment, at Standard Bank in Nigeria.“We have a fewmore digital innovations in the pipelinewhich we look forward to rolling out in the near future.” In response to the Covid-19


crisis, and at the onset of the initial government-led lockdowns, the bank introduced a raft of relief measures for both retail and business clients to assistwith mitigating the impacts of the pandemic.“We maintain open lines of communication with our clients and stand ready to assistwhere necessary,” she adds. PG


BEST PRIVATE BANK IN OMAN BANK MUSCAT


As the economies ofOmanandthe GCCregion continue to transition to becomeless oil-dependent, the private banking sector is having to adapt to the requirements of a new generation of clients, with different sources ofwealth. BankMuscat is gearedupto


respondto the changing needs of new businessesand clients.Afocuson closer engagement withcustomers, newclient acquisition, andthe scalingupof digital channels to accommodate customer transition fromphysical channels,were the key drivers behind the bank’s growth in 2019.


40 GLOBAL PRIVATE BANKING AWARDS 2020 The bank offers a diversified suite


of products andservices to clients spread across geographies and asset classes, including equities, fixedincome, mutual funds and alternatives. Although client investment portfolios still favour fixedincome instruments, the current lowyield environment has resultedin a greater need for diversification. “Customers are looking to diversify


their portfolios towards gold, international equities andreal estate as lowinterest rates are expected to prevail in the near future,” says Abdulnasir Al Raisi, deputy general manager, premier banking. “ESGis being selectively looked at by a few investors,however diversificationin asset classes as mentioned previously iswhat is beingfollowed by most investors.” Duringthe Covid-19 outbreak, the


bankcontinuedoperating in shifts to support all customersandtheir transactions,while simultaneously helping customers to adapt to digital channels faster. “Covid-19 did bring a stop to


normal business activity in the economyandalso the bank’s business. As the economy gets back into revival mode, the bankis handholding customers in terms of restructuring their loan repayments, to accommodate the disruption in cash flows in certain businesses,” he adds. Looking forward,andas the region’s economy continues to evolve, MrAl Raisi expects the bank to be “a key pillar in the sustained growth ofOman’s economy in the coming decade”.PG


BEST PRIVATE BANK IN POLAND BNP PARIBAS BANK POLSKA S.A.


With a cohort of at least five strong players, Poland is one of Europe’s more competitive private banking


markets,where the crownof best firm has changed hands several times in recent years. BNPParibas,nowoverseeing


€3bn ($3.5bn) in client assets, has significantly boosted its position in this growing market by recently purchasing and merging Raiffeisen Bank Polska with theBGZ subsidiary it acquired in 2014. As in other parts of theBNP


Paribas empire, there is a marked emphasis for clients on education and networking, facilitating attendance at programmes co-ordinated by StanfordUniversity in the US and CambridgeUniversity in the UK. Clients are also invited to attend


international tennis tournaments sponsored by theBNPParibas group, including Roland Garros, the Fed Cup, Davis Cup and multiple local events. Despite nominal independence


in their regions, theseBNPParibas subsidiaries have a huge advantage over pure local players, as they are able to leverage group expertise and resources fromParis and other key hubs. “We have a remarkable market


share in the Polish wealth management space,where we see huge opportunities,” says Vincent Lecomte, CEOofBNPParibasWealth Management. “There are a lot of successful entrepreneurs in Poland. Co-operation will be essential with our corporate banking teamand Iam optimistic that there will bemuch more to come.” YB


BEST PRIVATE BANK IN PORTUGAL BPI


Key differentiators highlighting BPI against competing Portuguese wealth managers include client segmentation and digital transformation, according to


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