Abu Dhabi- September 26, 2011- The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has added three new business current accounts exclusively for small and medium-sized enterprise (SME) clients. 

NBAD, which is committed to support the growth of SME sector in the UAE, has specifically tailored each account to suit and fulfill diverse business needs in the market.

The new current accounts are Business Basic, Business Advantage, and Business Preferred. Business Basic account suits entrepreneurs of micro businesses who have low to moderate transaction volume. This account requires minimum balance of only AED 1,000. Business Advantage account is designed for companies with average levels of transaction volume and requires minimum balance of AED 10,000. Business Preferred account is tailored for medium size businesses with high levels of transaction. It requires minimum balance of AED 25,000.

NBAD's business current accounts offer accounts holders the benefits of free monthly account statements and free ATM cards. Account holders would be eligible for a range of working capital and trade finance facilities. In addition, accounts holders will enjoy free day-to-day banking transactions to operate their business and free access to NBAD online service to monitor their account.

"NBAD believes in the role of SME sector in growing the UAE economy and endevours to provide suitable banking products and services to help SME succeed in entrepreneurship," said Haitham AlRefaie, the Head of Business Banking Group at NBAD.

"The new business accounts are designed to meet the everyday needs of businesses. With flexibility and convenience and other attractive features, we believe that entrepreneurs are equipped with smart banking solutions to achieve their goals," he added.

Recent statistics reveal that SMEs contribute more than 46% to the UAE's GDP and account for about 90% of all businesses in the country.

Since the beginning of this year, NBAD has proactively introduced several new products and services for SME.  In addition to the new business current accounts, NBAD offers Rent Finance and Visa Business Credit Card. The Bank has also partnered with major financial institutions and agencies in the UAE to expand services to SME.

NBAD also launched several business banking centres that exclusively entertain and serve customers with their business needs. The Bank plans to have 14 business banking centres throughout the UAE by the first quarter in 2012.

"NBAD's Business Banking Group is committed to supporting and nourishing the spirit of entrepreneurship and this is why we continue to bring to the market products and services that meet this segment's demands and needs," said Mr. AlRefaie.

-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 113 branches and more than 450 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 2011