UAE’s bank to open 50 branches in Egypt

August 27th, 2010 - 1:24 am ICT by IANS  

Abu Dhabi/Cairo, Aug 26 (IANS/WAM) The National Bank of Abu Dhabi (NBAD), a leading bank in the United Arab Emirates (UAE), is planning to open 50 branches in Egypt over the next few years.
As part of its expansion plan, the bank opened its 28th branch in Egypt Thursday in Helioplis area in Cairo.

“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, senior general manager of NBAD’s international banking division.

The bank now has 50 units operating in 12 countries across North America, Africa and the Middle East.

“NBAD’s aim is to be the number one Arab bank and therefore we will continue to look for opportunities in large Arab economies as well as other international markets,” Al Mulla said.

“The new branch has state-of-the-art technologies, enabling it to provide even more efficient, effective services to the customers,” said Ahmed Ismail Hassan, NBAD’s regional manager in Egypt.



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