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National Bank of Abu Dhabi to open branch in Hong Kong
 The National Bank of Abu Dhabi building in Abu Dhabi. (Reuters) |
ABU DHABI – Under a licence granted by Hong Kong financial authorities, the National Bank of Abu Dhabi is permitted to operate immediately in the semi-autonomous Chinese territory. The bank’s international director Qambar Ali Al-Mella explained that the move is in line with its strategy of expanding regionally and globally into promising sectors and activities.
He added that the Hong Kong branch is scheduled to open in the second half of the year and that this would be the bank’s first step in establishing a strong presence in the Far East. The National Bank of Abu Dhabi has definite plans to open additional branches in the region in the coming years, but Hong Kong will remain the bank’s flagship base for its Far Eastern operations.
The Hong Kong branch will offer customers and corporate clients a complete package of services and financial products. It will also provide support for trade between Chinese and Hong Kong-based companies and partners in the United Arab Emirates and other Gulf Cooperation Council (GCC) states. Finally, Al-Mella added that the branch will serve as a portal for Arab investors who are interested in conducting business in the Far East.
The new regional base in Hong Kong will extend the reach of the bank, already the most widely represented of the UAE’s banks abroad. At present, the National Bank of Abu Dhabi has regional branches in Oman, Kuwait, Bahrain, Egypt, Libya and Sudan and out-of-area offices in London, Paris, Washington and Geneva.
Al-Mella stated that, “The bank is planning to expand overseas and has obtained licences for a branch to open in Jordan later this year. Also on the horizon are offices in Qatar, Saudi Arabia, Morocco, Tunisia and Algeria.”
The National Bank of Abu Dhabi is the second largest bank in the United Arab Emirates and the 207th largest bank in the world.
Sources: UAE news agency/ Chinese news agency Xinhua
Reader Comments
We would like you to open a bank in Malaysia as soon as possible. Good luck.
Why do not you open a branch of the bank in Malaysia. Because Malaysia is also one of the countries that are developing in tourism sector and etc. I am awaiting your response. Regards: Khatami
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