Emirates NBD extends network in Dubai with inauguration of Al Muraqqabat branch

Press release

Published June 22nd, 2011 - 10:46 GMT

During the opening ceremony

Emirates NBD, a leading bank in the region, announced today that it has further extended its branch network in the UAE with the opening of a new branch in Dubai’s Muraqqabat area. With this branch, Emirates NBD now has a total of 110 branches in the UAE, of which 81 are in Dubai.

Situated in the heart of Deira’s business district, the Muraqqabat branch is also strategically located close to the Metro Green line, which is due to become operational shortly.

“Today’s announcement is in keeping with Emirates NBD Group’s strategy for 2011 to provide existing and potential customers in the UAE with greater convenience especially in the business areas of the country,” said Jamal Bin Ghalaita, Group Deputy CEO, Emirates NBD. “The Muraqqabat area has historically been the busiest business centre in Dubai and continues to be home to many large business houses. We are pleased to offer a wide range of financial services including Retail, Priority and Business banking to this important clientele.”

"Emirates NBD’s ongoing market research points to increasing customer demand for expansion in the bank’s physical infrastructure,” said Abdulelah Al Kindy, General Manager, Retail Banking, Emirates NBD. “As our largest branch in Deira, Al Muraqqabat branch is ideally positioned to offer ready access to banking services to the huge clientele in the area.”

Customers at the Al Muraqqabat branch will find a wide range of financial products and services on offer, including cash deposits and withdrawals, cheque deposits, managers cheques, Telex transfers, foreign currency buying and selling, personal and auto loans and credit cards, in addition to two ATMs and one CDM.

The Al Muraqqabat branch also has dedicated Priority Banking and Business Banking centres within the same complex offering specialised services including Exchange Traded Funds (ETFs) and Corporate Banking Unit, all under one roof.

Centrally located at the Emirates NBD building in Hor Al Anz, the newly opened branch is near Al Muraqqabat Police station, a well known landmark in the area. The working hours are from 8:00AM to 2:00PM, Saturday to Thursday.

Background Information

Emirates NBD

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.