Standard Chartered is focusing on Chinese clients in the UAE to grow its wealth-management business. The number of Chinese citizens in the UAE doubled to 400,000 by 2022. The bank plans to invest $1.5 billion in wealth management over five years. China-Middle East trade volume exceeded $400 billion annually.

The bank has ramped up investments in the UAE’s private-banking sector. Warming Asia-Middle East ties and UAE’s favorable tax policies attract Chinese individuals and businesses. Standard Chartered offers onshore and offshore banking services, including cross-border asset-backed lending. The bank hired more relationship managers to cater to Chinese clients in the UAE.

Read more at Yahoo Finance: Standard Chartered tailors UAE offerings to serve wealthy Chinese residents