Emirates NBD Opens Second Branch in Riyadh
Emirates NBD, a leading banking group in the region, today announced the opening of a second branch in The Kingdom of Saudi Arabia’s capital city, Riyadh.
The bank’s network of four full-fledged branches across the Kingdom’s three key regions marks KSA as its largest geographical presence outside the UAE and Egypt.
Emirates NBD’s new branch in Riyadh’s Al Masif District was inaugurated by His Excellency Ahmed Al-Kholifey, Governor, Saudi Arabian Monetary Authority in the presence of Emirates NBD’s, Vice-Chairman and Managing Director, Hesham Abdulla Al Qassim; Group CEO, Shayne Nelson; Emirates NBD KSA CEO, Loai Abduljawad and other senior officials and members of the management From SAMA and Emirates NBD.
The branch provides a full offering to Saudi-based individual and businesses, including retail, private, business and wholesale banking. The branch incorporates Emirates NBD’s award-winning proposition with a modern, digital-driven design, convenient self-service banking solutions and personalised advisory area. In addition to retail banking, wealth management services and trade financing, Emirates NBD also offers corporate finance advisory, project and syndicated finance through the bank’s investment banking arm, Emirates NBD Capital KSA.
“Our significant and growing network in the Kingdom is a reflection of our commitment to The Kingdom of Saudi Arabia and support for Vision 2030,” said Hesham Abdulla Al Qassim, Vice-Chairman and Managing Director of Emirates NBD. “Building on the strong economic and trade ties between The Kingdom of Saudi Arabia and the UAE, we hope to continue to serve and support the economic ambitions of Saudi individuals and businesses as the Kingdom forges ahead in its plans for economic transformation.”
With operations in Egypt, India, Singapore, and the United Kingdom and representative offices in China and Indonesia, 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.
“Emirates NBD’s investment in a robust full-fledged branch network across the Kingdom’s key provinces, strengthens our offering to individuals and corporates in KSA,” added Eng. Loai Abduljawad, CEO of Emirates NBD KSA. “Going forward, we aim to continue to enhance our offering and expand presence by leveraging our digital banking expertise, award-winning solutions and extensive franchise in KSA’s key trade markets.”
Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.