NBAD's officials at the inauguration of the Business Banking Centre in Al Ain
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, launched a business banking centre in the heart of Al Ain to further extend its services to small- and medium-sized enterprises (SMEs).
The new centre is located on the Al Ain clock Tower Branch follows NBAD’s launch of its first business banking centre in February in Abu Dhabi Industrial City (ICAD). The new business banking centre is located on the second floor of the Al Ain Clock Tower Branch in Al Ain’s city centre and serves as a suitable and convenient location for SMEs.
“We are pleased to launch the second business banking center today, delivering NBAD’s commitment to provide a wide range of banking solutions and products to meet the ever expanding demands of our customers” said Saif Al Shehhi, the Senior General Manager of Domestic Banking Division at NBAD. “SMEs are very important players in economic growth, and we are keen in providing best products and highest standards of services to our SME clients.”
Launching dedicated business banking centers is in line with NBAD's strategic objective to support and grow the SME sector, by meeting growing demands for business banking services.
“Serving small- and medium-sized businesses is a core strategy of NBAD’s domestic operations. We opened our second business banking centre only weeks after launching our first because we are committed to provide and expand our services to this segment,” said Haitham Al Refaie, the Head of Business Banking Group at NBAD.
NBAD's new business banking center, which will be run by professional and experienced talents, represents a valuable addition to NBAD’s network and channels endeavoring to keep pace with the international standards and trends for providing customers with innovative, specialized, customer-oriented products and services.
Business Banking Group at NBAD provides best solutions for financial transactions of all companies operating in the commercial segment through the Bank’s extensive branch network in the UAE and specialised products. NBAD offers world class services in Export Letters of Credit, advising LCs, Discounting of Export Documents, Transferrable LC, negotiation and discounting of Documents, Assignments.
Recent statistics reveal that SMEs account for 46% of the UAE's GDP and around 90% of all businesses in the country.
“NBAD will launch 14 dedicated business banking centers throughout the UAE in 2011 in line with our strategic objective to serve this significant sector,” Mr. Al Refaie said.
NBAD's Business Banking Group's ambitious expansion plan include opening four (4) business banking centers in Abu Dhabi city, one center in Al Ain, and one center in Western Region in the Emirate of Abu Dhabi in 2011.
In addition, Business Banking Group at NBAD will launch four (4) business banking centers in Dubai and four (4) more business centers in Sharjah, Ajman, Ras Al Khaimah/Umm Al Qaiwain, and Fujairah this year.
“Expanding our network is an essential element in NBAD’s commitment in providing exemplary service and making our services more accessible to SME customers,” Mr. Al Refaie added. “NBAD is an integral part of UAE fabric and is fully committed to the Government’s initiatives and plans to support SMEs and UAE economy.”
Recently, NBAD launched a campaign offering NBAD’s new and existing SME customers the chance to apply online for credit facilities up to AED 2.5 |Million and obtain in-principle approval within 7 days after application.
NBAD also signed a Memorandum of Understanding (MoU) with Khalifa Fund for Enterprise Development to administer Khalifa Fund loans to SMEs. Khalifa Fund promotes and nurtures entrepreneurialism and helps the development of start-up and existing businesses. The Fund extends credit to small and medium size businesses. Under the terms of the MOU, NBAD would provide credit administrator services of the Fund. The Bank will process the loan application and all the procedures involved in the offering and servicing of Khalifa Fund credit to borrowers.