Search SaudiArabiaPR.com

Home >> Banking & Investments

Emirates NBD plans further expansion in KSA

Emirates NBD plans further expansion in KSA

Sunday, July 21, 2019/ Editor -  

Share

Home >> Banking & Investments

Bank granted SAMA approval to open 20 new branches in the Kingdom

Riyadh, 21 July, 2019:   Emirates NBD, a leading banking group in the region, today announced plans for further expansion in The Kingdom of Saudi Arabia (KSA), following approval from SAMA (The Saudi Arabian Monetary Authority) to open 20 additional branches in the Kingdom.

The announcement reflects KSA’s growing importance to Dubai’s biggest bank by assets as the United Arab Emirates (UAE) continues to strengthen long-standing strategic and economic ties with the Kingdom. 

Emirates NBD currently operates four full-fledged branches across the Kingdom’s key regions with two branches in Riyadh, a branch in Jeddah and in the Eastern province in Khobar, providing a full offering to Saudi-based individual and businesses, including retail, private, business and wholesale banking. KSA marks the bank’s largest geographical presence outside its significant network in the UAE and Egypt.

Hesham Abdulla Al Qassim, Vice-Chairman and Managing Director of Emirates NBD stated, “The leadership of the UAE and KSA have a shared vision aimed at the development of our countries and Emirates NBD is delighted to support their vision through its continued franchise in the Kingdom. Our imminent expansion plans reflect our commitment to The Kingdom of Saudi Arabia and support for Vision 2030. We are grateful to receive SAMA’s support as we continue to invest in the Kingdom. We aim to continue to serve and support the economic ambitions of Saudi individuals and businesses through our robust and growing presence in the Kingdom.”

Emirates NBD’s full-fledged offering in KSA includes retail banking, wealth management services and trade finance, in addition to corporate finance advisory and project and syndicated finance through the bank’s investment banking arm, Emirates NBD Capital KSA. The bank’s branches incorporate Emirates NBD’s award-winning customer proposition with modern, digital-driven design, convenient self-service banking solutions and personalised advisory areas. 

With operations in Egypt, India, Singapore, and the United Kingdom and representative offices in China, Indonesia and Turkey, Emirates NBD has a strong franchise in KSA’s key trade markets. The bank has played an active role in supporting Saudi’s Small and Medium Enterprise (SME) sector, via the Kingdom’s Kafalah financing program.  


Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

New research to boost global date fruit production

Saudi Arabia's new procurement law to significantly impact companies competing f ...

Saudi Development and Reconstruction Program for Yemen Delegation Meets with Int ...

Saudi Bugshan Barmaja Co. Ltd Partners with Infor for Success

2nd Saudi Falcons and Hunting Exhibition opens in Riyadh Friday

Dubai Land Department welcomes Saudi Minister of Housing

Unifonic empowers business to capitalize on instant messaging apps to engage wit ...

Saudi Arabia's Ministry of Energy highlights enhanced cybersecurity credentials ...

ACCIONA lays the first stone for IWP Shuqaiq-3, one of the largest desalination ...

MBRU and King Saud University in Saudi Arabia join forces to enhance academic co ...

Foreo Launches Luna 3 to Refresh, Hydrate and Tone Up Your Skin

Turkish Airlines and United Nations Alliance of Civilizations created a joint pl ...

Bidfood KSA announcing another exclusive foodservice distributorship with Genera ...

Millennium Taiba and Al Aqeeq hosted thousands of pilgrims from around the world ...

The Power of the Multi-Masque

IHG signs agreement to debut voco® in Jeddah

SANS Institute to Bring Cyber Threat Knowledge and Ethical Hacking Skills to Sau ...

Introducing Pandora Me, featuring Millie Bobby Brown

RED Events accelerates growth in MENA with the opening of its new Saudi office

The new Bergamot & Neroli collection, inspired by the warmth and energy of Medit ...