Emirates NBD has expanded operations in the Kingdom of Saudi Arabia, as the bank recently inaugurated its first branch in Jeddah and announced plans to soon open a branch in Khobar and another in Riyadh, making KSA Emirates NBD’s largest branch network outside the UAE and Egypt.
NBD KSA offers full-fledged services across retail, private, business and wholesale banking, as well as corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.
“Our presence in KSA leverages the UAE’s strong economic, financial and commercial ties with the Kingdom. As Saudi rolls out its transformative Vision 2030 plan, we are delighted to deepen our relationship and continue to support Saudi individuals and businesses looking for a trusted banking partner,” said Hesham Abdulla Al Qassim, Vice-Chairman and Managing Director of Emirates NBD.
KSA represents the largest economy in the GCC and the country’s economic diversification programme is expected to boost development and increase the capital and trade flow across the region. Emirates NBD is the first non-Saudi bank to have a significant branch network across the Kingdom.
Loai Hassan Abduljawad, Chief Executive Officer of Emirates NBD KSA, said, “Our increased footprint will enable us to forge stronger on-ground relationships with individuals and corporates in KSA looking to invest and trade across the MENA region and beyond. We are committed to delivering value and contributing to the long-term development of the Kingdom’s economy.”