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ENBD to raise $12bn for clients

Emirates NBD expects to raise over $12bn for clients in the remainder of the year, boosting investment banking income as the lender seeks expansion, Bloomberg has reported. The UAE's largest bank by assets has mandates for about 20 bond and loan deals after helping raise $14.6bn for clients in 23 such transactions so far this year, said the lender's head of wholesale banking, Giel-Jan Van Der Tol. The new transactions will raise revenue at the lender's wholesale banking unit by more than 10% over the next 12 month and loan growth by 6%, he said.