Emirates NBD: Slashes 400 staff to cut costs

Emirates NBD: Slashes 400 staff to cut costs

Emirates NBD: Cut between 400 and 500 jobs in a cost-cutting exercise to counter slowing economic growth

  • The largest bank in Dubai, Emirates NBD has made reductions across multiple segments
  • The cuts have mostly affected the bank’s retail and also technology operations
  • The bank has upgrading its technology in a multi-year transformation project
  • They made an AED 1.5 billion ($410 million) investment towards digitising operations, products and services
  • It also selected TCS Bancs to streamline its payments processing in India, Egypt, Saudi Arabia, and the UK
  • It then updated its treasury operations by updating to Calypso 15, and its transaction banking platform through selecting iGTB