The National Bank of Abu Dhabi (NBAD) has announced the launch of its wholly-owned subsidiary National Bank of Abu Dhabi Malaysia in capital Kuala Lumpur. It is the bank's first branch in Southeast Asia.
With this launch, NBAD has expanded its global network to 14 countries, said a senior official.
'The opening of the first branch in Southeast Asia is a major step for NBAD. Southeast Asia is one of the fastest growing regions of the world with a strong commercial link to the UAE and GCC,” remarked Qamber Ali Al Mulla, the senior general manager of International Banking division of NBAD.
“Malaysia represents a strategic importance as a regional hub. The move demonstrates our confidence in the local market and in our ability to provide excellent products and services in the region,” he stated.
The UAE was Malaysia’s biggest trading partner in the GCC in 2011 with MYR 21.06 billion of trade flows. Bilateral Trade with the GCC stood at MYR 43.76 billion.
“We are strategically positioned to bridge Arab business interest with Malaysia and to promote bilateral trade and investments as we have a firm foothold in the U.A.E. complemented by a strong presence in the GCC and MENA regions,” said Leong See Meng, the CEO of NBAD - Malaysia.
NBAD - Malaysia, a fully licensed conventional commercial bank, offers a full suite of wholesale banking solutions to serve the unique requirements of Malaysian conglomerates, multinationals, manufacturers and exporters, he added.
NBAD has been ranked since 2009 one of the World’s 50 Safest Banks, and has advanced every year in the ranking to become the safest bank in the Middle East.
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