Dubai-based Emirates NBD has opened its first branch in Jeddah as part of its plans to launch a new branch in Khobar – the second branch in Riyadh, making KSA Emirates NBD’s largest branch network outside the UAE and Egypt.
Emirates NBD KSA offers full-fledged services across retail, private, business and wholesale banking, the bank said in a statement on Monday.
It also offers corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.
“Our increased footprint will enable us to forge stronger on-ground relationships with individual 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,” said, Loai Abduljawad, Chief Executive Officer of Emirates NBD KSA.
The Jeddah-based branch will offer a wide range of Emirates NBD’s award-winning retail and corporate banking solutions and services, including financing support to SME clients, a key sector of the Saudi economy, as part of the nation-wide Kafala program, he added.
Emirates NBD also operates in Egypt, India, Singapore, and the United Kingdom with representative offices in China and Indonesia.