The National Bank of Abu Dhabi (NBAD) has opened its eighth branch in Sur, in Ash Sharqiyah region in the northeast, about 150km from Muscat, in its ongoing expansion in the Sultanate of Oman.
NBAD has aggressively expanded in Oman since it opened its second branch in the country in 2006. NBAD opened its first branch in Oman’s Capital, Muscat, in 1976. NBAD set a goal last year to double its presence in Oman to 14 branches by 2014.
The new branch will offer up-market commercial banking services including corporate and retail banking, elite banking, wealth management, deposits, finance, and other tools and solutions.
Qamber Ali Al Mulla, senior general manager of NBAD’s international banking division, said: “This step comes in line with the bank’s strategy to expand in regions that offer attractive opportunities for the banking industry. Opening NBAD’s branch in Sur underpins our international network, which is the largest overseas network of all UAE local banks. It stretches from Hong Kong in the Far East; to Oman, Bahrain and Kuwait in the Gulf Co-operation Council; Jordan in the Levant; Egypt, Sudan, and Libya in Africa; the UK, Switzerland, and France in Europe; and Washington DC in the US.”
Saeed AlMubarak, regional manager in Oman at NBAD, said: “NBAD has a strategic plan to be in key towns of the six regions of Oman. NBAD enjoys a good reputation and prestige in this market; with a growing economy and increasing income, we foresee great opportunities in Oman. NBAD has been in Oman for over 30 years. The bank’s foundation in this country is deep and we want to contribute to the economy and growth of Oman.”