National Bank of Abu Dhabi opens its Egypt's 27th branch

The new branch is located in a very unique location in the south of Hurghada - Red Sea; Senzo Mall is considered the first mega mall in the city and a landmark being located at the roundabout leading to the cities south of Hurghada (i.e. Safaga and Marsa Alam) and also leading to the new resorts in Sahl Hasheesh.

"This step comes in line with the Bank's strategy to expand in regions that offer attractive opportunities for the banking industry,"

said Mr. Qamber Ali Al Mulla, Senior General Manager of NBAD's International Banking Division.

"Opening NBAD's branch in Senzo Mall underpins our international network, which is the largest overseas network of all UAE local banks; It stretches from Oman, Kuwait, and Bahrain in the G.C.C., Egypt, Libya and Sudan in Africa, London, Paris, and Geneva in Europe to Washington D.C. in the U.S.A. In addition, NBAD is opening its branches in Hong Kong and Amman, Jordan in Q4 2009," Mr. Al Mulla added.

The new branch has been strategically located to provide easy access for NBAD's wide and growing customer base in various areas. It has been outfitted with state-of-the-art technologies enabling it to provide even more efficient, effective services to the bank's customers. NBAD's branch in Senzo Mall will offer customers access to all of the bank's competitive and innovative products and services.

Being located in a mall with expected high customer traffic throughout the day, NBAD's new branch will operate extended opening hours to suit its prospect clientele. The branch is fully equipped and is capable of providing various retail and corporate banking services. It is also provides 24/7 access to NBAD's ATM for the convenience of the bank's customers.

"The new branch, which will be run by professional and experienced talents, is a valuable addition to NBAD's branch network endeavoring to keep pace with the international standards and trends for providing its customers with innovative, customer-oriented products and services," said Mr. Ahmed Ismail, NBAD NBAD's Regional Manager in Egypt.

NBAD has been operating in Egypt since 1975. During the past 34 years it has succeeded to establish an excellent name in the local market and amongst local financial institutions and position itself as one of the leading foreign banks in Egypt.

NBAD currently maintains an extensive network of 27 branches throughout Egypt, covering the country from North to South and East to West in addition to 43 on- and off-site ATMs.

NBAD Egypt, being a full branch of NBAD - UAE, is enjoying the same international credit rating. NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moody's and AA-/F1+ by Fitch giving one of the strongest combined rating of any Middle Eastern financial institution and considered the highest among any bank operating in Egypt.

Recently, NBAD was ranked among the World's 50 safest banks in 2009 by Global Finance, a matter which confirms the bank's prudent policies.

NBAD's target market in Egypt is large corporates both Egyptian and multinational. NBAD serves as the banker of choice for most UAE companies having a presence in Egypt.

Furthermore, the bank is committed to assist the government in its declared goal to support SMEs in Egypt and has therefore established an SME's Unit to provide financing & services for this market segment. Targeting the top end of the retail banking sector, NBAD combines efficiency and professionalism and offers a complete range of contemporary retail banking services.