The largest lender in the United Arab Emirates, National Bank of Abu Dhabi (NBAD) already has operations in 18 countries. At the end of October, the institution announced that it will be establishing banking hubs in such strategic locations as Mumbai, Hong Kong, Lagos, and Singapore. Additionally, Abu Dhabi, Paris, London, and Washington, D.C., will all become banking hubs. This expansion will allow NBAD to tap into emerging markets in northern Africa and the Indian subcontinent.
Furthermore, NBAD will introduce five international bank franchises, and it plans to open 10-20 branches in countries like Egypt and Malaysia. Bank officials have predicted a 15 percent medium-term return on equity target and a 10-15 percent increase in lending. Earlier this year, Global Finance rated NBAD the 35th safest lender in the world; officials hope that this new strategy will increase overall opportunity and promote the bank’s reputation as an industry leader.