UBS Group AG is expanding its push to offer clients leveraged deposits with Middle East lenders to take advantage of higher regional savings rates, people familiar with the matter said. The Swiss finance giant recently pitched wealth clients on adding borrowed money to help juice returns with funds placed at Qatar National Bank QPSC, the largest lender in the gas-rich peninsula on the Persian Gulf, the people said, asking not to be identified as the details are private. The Zurich-based firm previously offered the same product for Saudi Arabia’s biggest lender by market value, Al Rajhi Bank.

UBS aims to capture higher yields in the Gulf region where savings rates exceed global norms. The strategy involves using client deposits with leverage to enhance returns, targeting wealthy investors seeking yield enhancement. Qatar National Bank represents a key partner as the largest lender in the Persian Gulf region, while Al Rajhi Bank served as the prior Saudi Arabia focus.

The initiative reflects growing interest in regional wealth management solutions as global rates remain low. UBS positions this as an opportunity for clients to access enhanced returns through structured deposit products tied to local banking partners.

The expansion underscores UBS’s continued focus on Middle East wealth clients despite regional economic fluctuations, with Qatar’s energy-driven economy supporting stronger deposit rates compared to other markets.