Emiratis are the most likely to spend their bonus amounts while Indian expats are most likely to invest their bonus payments in a savings scheme, a new survey says.
The new African fund will focus on well-managed, mid-market firms in sectors most likely to benefit from demand driven by the rapid expansion of the middle class.
NBAD has been focusing on growing its fee-paying businesses such as wealth management as it aims to offset high levels of competition in traditional banking products.
The fund’s latest acquisitions include the W Hotel in Washington D.C., a majority stake in New York’s Mandarin Oriental and minority stake in One&Only Cape Town.