Present in UAE since 1974, Bank of Baroda is the only Indian bank to offer full fledged banking services through six branches, eight EBSUs and 32 ATMs.
The opening ceremony was attended by senior government officials from China and the UAE, business leaders, industry decision-makers and media.
Arab Bank, Jordan’s largest lender, is seeking to regain access to its Al Wahda bank unit in Libya after last year’s uprising forced it to exit the country.
The new NBAD office is located in Al Kawthar area, the main banking district in Hurghada, the leading city on the Red Sea coast and a popular touristic and investment destination.
Total assets reached EP17.4 billion, up 5.5 per cent year-on-year. ROA increased to 1.86 per cent compared with 1.70 per cent at the end of June 2011, and ROE increased to 20.1 per cent from 17.36 per cent.
The bank’s success can be attributed to a new strategy it implemented last year based on five pillars, Finansbank General Manager Temel Güzeloğlu said in an announcement following the results release.
Emirates Islamic Bank (EIB), the Islamic banking arm of Emirates NBD Group, a leading financial services organisation in the region, announced today, the launch of a banking package for new entrants to the UAE.
Standard Chartered was allowed to buy the whole of Credit Agricole Yatirim Bankasi Turk AS from its Montrouge, France- based parent, the Ankara-based regulator said on its website today.