The bank has opened its first branch in Khobar.
Emirates NBD has expanded its presence in the Kingdom of Saudi Arabia (KSA) with the opening of its first branch in the city of Khobar in the eastern province, and now covers three key regions in KSA with presence in Riyadh, Jeddah and Khobar.
As KSA progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year timeframe.
UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. Leveraging its digital banking capabilities and strong franchise in KSA’s key trade markets, the bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm. Emirates NBD also operates in Egypt, India, Singapore, and the United Kingdom with representative offices in China and Indonesia.
“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy. Saudi is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner,” said Hesham Abdulla Al Qassim, Vice-Chairman and Managing Director of Emirates NBD.
Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Programme which aims to promote financing to Small and Medium Enterprises (SMEs) within the Kingdom of Saudi Arabia.
“Emirates NBD’s expanded network strengthens our offering to individuals and corporates in KSA looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalised advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030,” added Eng. Loai Abduljawad, CEO of Emirates NBD KSA.