Maktoum Bin Mohammed, Deutsche Bank chairman discuss rapid growth witnessed in UAE’s banking sector

Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, on Friday met with Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank AG, one of the world’s leading financial institutions.

During the meeting, held at his office, Sheikh Maktoum Bin Mohammed said the UAE’s banking and financial sector is entering a new high-growth phase driven by technological innovation and digital transformation. He noted that this creates opportunities for leading international banks to tap into exceptional new opportunities by taking advantage of the country’s globally benchmarked strengths in governance, regulation, infrastructure and business-enabling services.

The meeting discussed Dubai’s continued rise as one of the world’s leading focal points for investment, capital flows and enterprise growth in the global financial industry.

The discussions also touched on Dubai’s commitment to facilitating the growth and expansion of international banking and financial institutions by offering a world-class ecosystem that supports competitiveness and long-term market development. It was noted that establishing deeper partnerships with international financial institutions is a key priority aligned with the Dubai Economic Agenda D33, which aims to double Dubai’s GDP by 2033 and position the city among the world’s top three urban economies and top four global financial hubs.

Deutsche Bank is a leading global bank providing services across corporate banking, investment banking, private banking and asset management. Founded in 1870, the bank operates in 56 countries and employs around 90,000 people worldwide.

As of the end of the third quarter of 2025, the bank reported €1.054 trillion in assets under management within its Asset Management division and €675 billion within its Private Banking division. Its net revenues grew 4% in 2024 to reach €30.1 billion. Deutsche Bank’s Middle East and Africa hub, based in the Dubai International Financial Centre (DIFC), offers a full range of investment banking, asset management, private wealth management and global transaction banking services.

The meeting was attended by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs; Helal Almarri, Director- General of the Dubai Department of Economy and Tourism; Essa Kazim, Governor of DIFC; and Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD.

WAM