Natixis CIB Targets Double-Digit Expansion in Middle East and Asia Amid Regional Uncertainty

French lender Natixis Corporate and Investment Banking anticipates double-digit growth across its Middle East and Asia operations for this year and the next, pushing forward despite economic contractions and geopolitical uncertainty stemming from the Iran war.

Bruno Le Saint, chief executive of Natixis CIB for Asia Pacific and Middle East, stated that the bank aims to sustain the double-digit pace it has maintained in the region over the past five years. Overall, the lender hopes to approach a 20 percent increase over the next two to four years, depending on the broader expansion of its operations.

For the wider Middle East, Natixis CIB projects at least 10 percent growth next year, with the UAE and Saudi Arabia serving as its two largest regional markets. Part of Groupe BPCE, the eurozone's fourth-largest banking group, Natixis CIB is currently expanding its footprint in the UAE from the Dubai International Financial Centre, where its Paris-based company houses 80 personnel and plans to further boost local workforce capabilities.

The bank also intends to strengthen its presence in Saudi Arabia through its banking subsidiary, Natixis Saudi Arabia Investment Company, noting that it remains underinvested in the kingdom. The country's Vision 2030 agenda aligns closely with the core financing and investment banking strengths of Natixis CIB in areas such as telecoms, energy, infrastructure, metals, and mining. Additionally, the bank is exploring potential expansion into Turkey as part of its broader regional strategy.

The Iran war, which started on February 28, has increased economic uncertainty, with the World Bank predicting Gulf economies will contract by an average of 4.3 percent this year. Despite these contracting GDP forecasts and a roughly 10 percent drop in regional debt capital market deal volumes, Mr Le Saint remains optimistic that the firm has not yet reached its natural market share and can continue its growth trajectory.

Celebrating its 20th anniversary, Natixis CIB combined its Asia and Middle East operations early last year. The integrated platform now accounts for more than 15 percent of the bank's overall business, a figure the lender intends to increase to 20 percent and beyond by leveraging trade links and connecting capital seekers and providers globally.