Abu Dhabi Financial Services acquires a 70% stake in the Egyptian Al Salam Brokerage firm

Notably, Abu Dhabi Financial Services is the brokerage arm and is a 100% owned subsidiary of National Bank of Abu Dhabi considered a pioneer and amongst the most prominent brokerage firms in the UAE.

This acquisition highlights ADFS's perseverance and continuous impetus in improving services offered for our distinguished clients, and it is to be considered a first step towards the fulfilment of a wider scope of development including the modernization of our IT infrastructure, enhancement of the company's Human Resources and additional regional and international expansion.

ADFS, remains at course gradually fulfilling its expansion strategy plans in those markets deemed pivotal by way of acquisition and establishment or strategic alliances with reputable and influential institutions well vested in the capital markets of those countries.

More so, Mr Osama Amer the Chairman and Managing Director of Al Salam Brokerage along with Mr. Khaled Abdel Rahman, Executive General Manager of Abu Dhabi Financial Services stated the birth of this partnership under the umbrella of national Bank of Abu Dhabi will have multifaceted benefits to the clients of both institutions most notably:

1. Quick and responsive execution of multi-market orders through only one broker;
2. The convenience of trading on multi markets and in multi currencies utilizing a sole account in the client's local currency at any of the sporadic National Bank of Abu Dhabi branch networks in the UAE and Egypt alike;
3. The diversification of the investment portfolios minimizing investment risks;
4. Decrease geographical risk of our clients.

Consequently the birth of this partnership will inevitably have several other general benefits to include:
1. Improving services available for our distinguished clients which will lead to attracting new clients;
2. Increasing staff skills and knowledge through regional and international exposure;
3. Cross Selling: We will invoke new channels of marketing for both markets.