Two Abu Dhabi lenders have emerged as frontrunners to buy most of Barclays' retail banking operations in the UAE, with a final decision expected next month after a competitive bidding process, banking sources said on Wednesday.
Barclays will stop offering wealth management services in about 130 countries by 2016 and cut jobs in the unit as part of an effort to rein in costs and boost profit.
"This is part of our new strategy, focusing on reducing co
The banking sector in the Middle East will become more competitive over the coming two years according to the annual Barclays Corporate Global Banking Survey.
The survey was conducted among 200 top executives from leading banking and insu