Abu Dhabi/ Washington: National Bank of Abu Dhabi (NBAD) intends to continue its expansion in North America, a senior executive said yesterday.
Abu Dhabi International Bank (AIB), a wholly owned subsidiary of NBAD, said it has acquired new premises in Washington, D.C.
The new office was inaugurated by Yousuf Al Otaiba, the UAE Ambassador to USA and Qamber Ali Al Mulla, the Senior General Manager of International Banking Division at NBAD.
"AIB's decision to purchase and move to this new location reflects our commitment and expanding business in North America," Al Mulla said after inauguration of the new premises.
Al Mulla also highlighted the bank's intention to continue with its expansion programme overseas in various key financial markets over the next few years.
"NBAD is ideally positioned as the bridge between the UAE and Middle East and the rest of the world paving the way for expanded international commerce, and we will continue to take steps to secure NBAD's Vision to be recognised as the world's best Arab bank." Al Mulla said.
Saif Al Shehi, Senior General Manager of Domestic Banking Division at NBAD, Khalaf Sultan Al Daheri, General Manager and Chief Risk Officer, and senior managers of the Bank attended the official opening of the AIB's new offices.
AIB, set up in 1981, is managing the group's global account relationships with US companies, benefiting from the Bank's strong presence and brand in the GCC and Middle East region. AIB offers trade finance, loans, and treasury services, as well as supporting UAE individuals and companies who require banking services and financing of investments in the US.
"It is a matter of pride for us that as AIB celebrates its 30-year anniversary this March, we have moved to a high profile location, further cementing NBAD's commitment to North America," said Nagy S. Kolta, the Executive Vice President of AIB.
NBAD, ranked one of the 50 safest banks in the world in 2009 and 2010 by Global Finance, has the widest international network among all UAE banks.
