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Al Ahli Bank opens branch in Abu Dhabi

Kuwait's Al Ahli Bank (ABK) on Sunday opened a branch in Abu Dhabi, becoming the first Kuwaiti bank to begin operations in the emirate.

  • By Himendra Mohan Kumar, Staff Reporter
  • Published: 23:25 January 25, 2009
  • Gulf News

Abu Dhabi: Kuwait's Al Ahli Bank (ABK) on Sunday opened a branch in Abu Dhabi, becoming the first Kuwaiti bank to begin operations in the emirate.

"We have been operating in Dubai since 1986. Despite an international financial crisis, we think, it's the right time for us to open a branch here," Ahmad Yousuf Behbehani, the bank's chairman told reporters during the branch's inauguration.

"We have great confidence in Abu Dhabi's economy and that it would continue its momentum of growth," Behbehani said.

"Abu Dhabi has huge potential for all our corporate and retail clients to benefit from. We will use our years of expertise and professional management skills to invest in new and ongoing projects," said ABK's Deputy Chairman Ali Hilal Al Mutairi in a statement.

Although ABK's branch in Abu Dhabi will initially cater mainly to its corporate clients, including trade financing and major projects in Abu Dhabi and the UAE, the branch will also be available to service its retail banking clientele.

Its Dubai branch is operating as a full fledged commercial bank, providing international banking services and catering to the banking needs of Kuwaiti and local businessmen in Dubai.

ABK has 22 branches in Kuwait.

Established in Kuwait in 1967, ABK also has plans to open branches in Sharjah and Ras Al Khaimah. It's also aiming to open branches in Qatar and Oman as part of its regional expansion.

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