National Bank of Abu Dhabi (NBAD) has opened a new El Hegaz branch in Helioplis in eastern Cairo as part of its plans to expand its international branch network.

NBAD now has nearly 50 units operating in 12 countries spanning the Far East to North America, Africa and the Middle East.

Abu Dhabi-based NBAD, which is operating in Egypt since 1975, already operates 28 branches in Egypt. It plans to open nearly 22 more branches in Egypt over the next few years.

NBAD Egypt targets the top end of the retail banking sector and, both Egyptian and multinational large corporates.

NBAD International Banking Division senior general manager Qamber Ali Al Mulla said NBAD’s aim is to be the number one Arab Bank and therefore the company will continue to look for opportunities in large Arab economies as well as other international markets.

“NBAD currently has a number of expansion projects in the pipeline in various stages,” Mulla said.