National Bank of Abu Dhabi
The National Bank of Abu Dhabi NBAD, the Number One Bank in the United Arab Emirates UAE, launched its wholly owned subsidiary National Bank of Abu Dhabi Malaysia Berhad NBAD - Malaysia in Kuala Lumpur, expanding NBAD’s global network to 14 countries.
“The opening of NBAD’s first branch in Southeast Asia is a major step for the National Bank of Abu Dhabi. Southeast Asia is one of the fastest growing regions of the world with a strong commercial link to the UAE and Gulf Cooperation Council GCC,” said 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.”
The U.A.E. was Malaysia’s biggest trading partner in the GCC in 2011 with MYR 21.06 Billion AED 24.42 Billion of trade flows. Bilateral Trade with the GCC stood at MYR 43.76 Billion AED 50.76 Billion. Malaysia is one of the largest economies in the Association of Southeast Asian Nations ASEAN, which also includes Indonesia,Singapore, Thailand and Philippines.
“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 Chief Executive Officer 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.
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. NBAD has maintained its strong credit rating, one of the highest combined ratings in the MENA. Its global network of more than 50 branches and 60 ATMs is the largest and most widespread in the UAE. This network stretches from China and Hong Kong in the Far East to Malaysia in Southeast Asia, Oman, Bahrain and Kuwait in the GCC, Jordan in the Levant; Egypt, Sudan and Libya in Africa; Switzerland, France and the UK in Europe, and the United States of America in North America. The Bank has further expansion plans including Lebanon, Iraq, India, South Sudan and other key destinations in MENA and beyond.
In 2011, NBAD’s international operations increased its operating profits by 26% from 2010, contributing AED741 million US$202m to the Bank’s AED5.3 Billion $1.4 Billion operating profits, which represents a contribution of 14% to the total.
“We wish to bring value to our clients in the UAE, GCC, Asia and other parts of our International Network to Malaysia and vice versa to promote international trade flows offering a comprehensive suite of financial services”.“NBAD will bring value to the Malaysian market by positioning our strong brand and international network,” Mr. Al Mulla said. “NBAD’s aspiration is to be the World’s Best Arab Bank and now NBAD has taken another step to realising this aspiration by entering Malaysia, one of the world’s thriving and exciting economies.”