Abu Dhabi, Cairo: National Bank of Abu Dhabi (NBAD) has announced the opening of its Egypt's 27th branch in Senzo Mall in Hurghada, Red Sea in line with its expansion plan to enlarge the branch network in Egypt to 50 branches by 2013.
The new branch is located in a very unique location in the south of Hurghada - Red Sea; Senzo Mall is considered the first mega mall in the city and a landmark being located at the roundabout leading to the cities south of Hurghada (i.e. Safaga and Marsa Alam) and also leading to the new resorts in Sahl Hasheesh.
"This step comes in line with the Bank's strategy to expand in regions that offer attractive opportunities for the banking industry," said Mr. Qamber Ali Al Mulla, Senior General Manager of NBAD's International Banking Division.
"Opening NBAD's branch in Senzo Mall underpins our international network, which is the largest overseas network of all UAE local banks; It stretches from Oman, Kuwait, and Bahrain in the G.C.C., Egypt, Libya and Sudan in Africa, London, Paris, and Geneva in Europe to Washington D.C. in the U.S.A" Mr. Al Mulla added. "In addition, NBAD is opening its branches in Hong Kong and Amman, Jordan in Q4 2009".
The new branch has been strategically located to provide easy access for NBAD's wide and growing customer base in various areas. It has been outfitted with state-of-the-art technologies enabling it to provide even more efficient, effective services to the bank's customers. NBAD's branch in Senzo Mall will offer customers access to all of the bank's competitive and innovative products and services.
Being located in a mall with expected high customer traffic throughout the day, NBAD's new branch will operate extended opening hours to suit its prospect clientele. The branch is fully equipped and is capable of providing various retail and corporate banking services. It is also provides 24/7 access to NBAD's ATM for the convenience of the bank's customers.
"The new branch, which will be run by professional and experienced talents, is a valuable addition to NBAD's branch network endeavoring to keep pace with the international standards and trends for providing its customers with innovative, customer-oriented products and services," said Mr. Ahmed Ismail, NBAD NBAD's Regional Manager in Egypt.
NBAD has been operating in Egypt since 1975. During the past 34 years it has succeeded to establish an excellent name in the local market and amongst local financial institutions and position itself as one of the leading foreign banks in Egypt.
NBAD currently maintains an extensive network of 27 branches throughout Egypt, covering the country from North to South and East to West in addition to 43 on- and off-site ATMs.
NBAD Egypt, being a full branch of NBAD - UAE, is enjoying the same international credit rating. NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moody's and AA-/F1+ by Fitch giving one of the strongest combined rating of any Middle Eastern financial institution and considered the highest among any bank operating in Egypt. Recently, NBAD was ranked among the World's 50 safest banks in 2009 by Global Finance, a matter which confirms the bank's prudent policies.
NBAD's target market in Egypt is large corporates both Egyptian and multinational. NBAD serves as the banker of choice for most UAE companies having a presence in Egypt. Furthermore, the bank is committed to assist the government in its declared goal to support SMEs in Egypt and has therefore established an SME's Unit to provide financing & services for this market segment. Targeting the top end of the retail banking sector, NBAD combines efficiency and professionalism and offers a complete range of contemporary retail banking services.
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About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, was incorporated in 1968. NBAD has a network of 90 branches in the UAE in addition to Cash offices that are spread out at remote locations to provide banking services to customers stationed at offshore oil operations and in desert locations as well as other government organizations. NBAD also has three Shift offices inside the security areas of the Abu Dhabi International Airport providing currency & traveler's cheques exchange services.
The branch network is widened further with over 300 ATMs through which customers perform a variety of transactions.
Besides brick & mortar branches, NBAD provides 24 hour internet banking accessibility through NbadOnline and NbadDirect, as well as account access and personalized customer support through the 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, London, Paris, and Geneva in Europe to Washington D.C. in the U.S.A.
The bank provides its customer with a wide variety of financial services targeted at all segments of the retail and corporate market in addition to Fund Management, Brokerage, Leasing, Property Management businesses and Private Banking.
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 one of the strongest combined rating of any Middle Eastern financial institution.
NBAD is an award winning leader in the UAE and GCC financial services industry. NBAD was recently awarded the prestigious the 'Best Bank in UAE 2009' from Euromoney, 'UAE Corporate Governance Award' by Hawkamah, Institute of Corporate Governance, the Human Resources Development Award in Banking Sector from Emirates Institute of Banking & Finance Sector, the Mohammed Bin Rashid Al Maktoum Business Award, 'Best Bank in UAE' from emeafinance, and Best Personal Loan in product category by The Banker Middle East publications. In previous years, NBAD has also won other prestigious awards such as the Sheikh Khalifa Gold Award, the Dubai Quality Award, the Middle East Excellence Award 2008, ACN Arab Technology Award for the Banking & Finance, CIO Award of The Year, the 'Best Bank in UAE' from Euromoney and Banker publications, 'Human Resources Development Award' from the Emirates Institute for Banking & Financial Studies, the 'Middle East e-Banking Country Award', the 'Outstanding use of IT in Financial Services Award, and excellence award for 'Best use of Technology' from Banker Middle East.
The bank has been recognized as a "Super Brand" by Superbrands, the independent authority and arbiter on branding.
For further enquires, please contact:
Ehab Khairi Hassan
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Mob: + 971508126799
Email: ehab.khairi@nbad.com
Web: www.nbad.com
© Press Release 2009
