Plans to increase network to 50 branches by 2015
Abu Dhabi / Cairo: The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has opened its 29th branch in Egypt in line with the Bank's strategy to expand its branch network in Egypt to 50 branches by 2015.
The new Shoubra Branch in Northern Cairo is strategically located in one of the largest districts of the Greater Cairo area.
"NBAD opened its first overseas branch in Cairo in 1975. Since then, Egypt remains an important and critical market for us as can be witnessed by our growth and future plans for the country," said Qamber Ali Al Mulla, the Senior General Manager of NBAD's International Banking Division.
NBAD continues to expand its international presence. The Bank now has 51 units operating in 12 countries spanning the Far East to North America, Africa and the Middle East.
"NBAD's aim is to be the World's Best Arab Bank and we will continue to look for opportunities in different countries," Mr. Al Mulla said.
NBAD has a number of expansion plans. "Opening NBAD's branch in Shoubra underpins our international network, which is the largest overseas network of all UAE local banks." Mr. Al Mulla said. "In addition to expanding our networks in countries where we operate, NBAD will open a branch in Malaysia and a representative office in Shanghai, China in 2012. We are also studying to enter other markets in the near future," Mr. Al Mulla said.
NBAD has become an established brand in the Egyptian market and has positioned itself as a leading bank in the market.
"The new branch has been outfitted with state-of-the-art technologies enabling it to provide even more efficient, effective services to the Bank's customers," said Ahmed Ismail Hassan, NBAD's Regional Manager in Egypt. "It offers customers access to all of the Bank's competitive and innovative products and services. Run by professional and experienced talents, the new branch is a valuable addition to NBAD's branch network endeavoring to keep pace with the international standards and trends for providing innovative products and services."
NBAD Egypt targets the top end of the retail banking sector and large corporates, both Egyptian and multinational. NBAD serves as the banker of choice for most UAE companies doing business in Egypt. Furthermore, the Bank is committed to supporting small and medium-sized businesses and has established its SMEs unit to provide financing to this vital segment.
-Ends-
About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in UAE, was incorporated in 1968 and is listed on the Abu Dhabi Securities Exchange (ADX), under stock code (NBAD).
Ranked as one of the top 50 safest banks in the world, NBAD currently operates across 13 countries on four continents. NBAD has a network of more than 115 branches and 500 ATMs to provide banking services to customers all over the UAE.
Besides brick & mortar branches, NBAD provides 24 hour internet banking access through NbadOnline and NbadDirect, the SMS-based payment service (Arrow) as well as account access and personalised customer support through its 24-hour Call Centre.
NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C.; Egypt, Libya, and Sudan in Africa; UK, France, and Switzerland in Europe; Hong Kong and Jordan in Asia to Washington, D.C. in the U.S.A. Overall, NBAD has nearly 50 branches and 60 ATMs outside the UAE.
NBAD provides its customers with a wide variety of financial services targeting all segments of the consumer and corporate markets.
NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution.
For further enquires, please contact:
Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Email: ehab.khairi@nbad.com
Web: www.nbad.com
© Press Release 2012
