UAB has announced a record net profit of Dhs298m for the nine months ended 30 September 2012, an increase of 32% over the same period of 2011 and the highest net profit ever for UAB in the first nine months of the year.
He added:"During the year, the bank embarked on new strategic growth initiatives to broaden our revenue streams and we remain confident that these will further enhance our operating returns in the future."
D. Sarkar, the bank’s chairman and managing director, said the DIFC branch — the bank’s second overseas
"The UAE is an important global business centre and this initiative reflects our commitment to bring world-class banking services to the doorstep of the Indian community in the region," the group head for said.
Today, of the 43 banks operating in Azerbaijan, 23 operate with the participation of foreign capital. In seven of them the share of foreign capital ranges from 50 to 100%, in 14 banks - up to 50%.
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.