- Bank of New York Mellon ( NYSE: BK ) and Emirates NBD, a banking group in the Middle East, North Africa, and Turkey region, have formed an alliance that's focused on accelerating growth in the United Arab Emirates capital markets, the companies said on Tuesday.
- "The alliance brings Emirates NBD's on-ground strengths, reach and long-standing reputation as a trusted financial services partner to individuals and businesses in the UAE together with BNY Mellon's ( BK ) global expertise as the world's largest custodian to create a win-win proposition for regional and overseas investors alike," said Shayne Nelson, group CEO of Emirates NBD.
- The two companies will work to increase international investor access to the UAE's dynamic market through digitization. The UAE is currently experiencing an expansion of capital markets with multiple new listings and significant increase in market liquidity on both Dubai Financial Market and Abu Dhabi Securities Exchange, the two firms said.
- Last month, BNY Mellon ( BK ) announce plans to increase its quarterly dividend by 8.8% to $0.37 as soon as Q3 after its passed the Federal Reserve's 2022 stress test .
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BNY Mellon, Emirates NBD team up to accelerate growth in UAE capital markets