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NBAD to set up corporate banking office in Turkey

  • United Arab Emirates: Thursday, April 25 - 2013 at 06:09

Michael Tomalin, the chief executive of National Bank of Abu Dhabi (NBAD) has said the lender plans to start trade finance and corporate banking operations in Turkey after the second-largest UAE bank failed to find the right acquisition target, Bloomberg has reported. "Turkey is a very important market for us," Tomalin told the news service. The Abu Dhabi-based lender, which is applying to set up an office in Turkey, plans to expand into the country "as a bank in trade finance, as a bank in capital markets, as an investment bank," he said.

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