Emirates NBD, the UAE’s largest banking institution, is expecting to experience a hiring spree creating between 200 and 300 new jobs for the consumer banking division in 2011 as business swells, according the deputy CEO.
The bank will add sales staff and has experienced an expansion in private banking services, meaning a larger team is needed. Head of the consumer banking section for Emirates NBD, Jamal Bin Ghalaita stated that his team will have positions open, especially within priority banking, increasing the bank’s 4,000-strong total workforce.
Many banking institutions in Dubai trimmed back their staff by the thousands after the global economy slumped, effecting the Arab world’s financial hub harshly. Under the Al Ghurair family’s control, UAE bank Mashreqbank PSC stated a few weeks ago that 50 positions had been shed during a reorganization of the small to mid-sized loan division.
Bad loan provisioning at the consumer banking sector in Emirates NBD decreased by half during the third quarter when compared to the first quarter, as stated by Bin Ghalaita.
The loan book at the close of September sat around 17.2 billion dirhams (or $4.7 billion) for the retail banking division, which constituted 8.6 percent of total lending at the bank. Revenue at Emirates NBD, including credit cards, personal and automobile loans, dropped 2 percent during the third quarter, landing at 2.5 billion dirhams.Paul Holdsworth, Staff Writer, Gulf Jobs Market News