Emirates NBD eyeing overseas expansion opportunities
Complex Made Simple

Emirates NBD eyeing overseas expansion opportunities

Emirates NBD eyeing overseas expansion opportunities

Rick Pudner, chief executive of Dubai's largest bank, Emirates NBD has said the lender is looking for acquisitions in fast-developing African markets to satisfy investor demand for growth it is unlikely to deliver at home, Reuters has reported. The bank is targeting international revenues of around 15-20% of its total in five years' time, up from 5% at present, said Pudner. Acquisitions are likely to play a role in this, given the difficulties of achieving organic growth in the current economic environment, he said. "If you can find something that isn't betting the bank on but is a good opportunity to take advantage of weaker asset prices in the region, then you need to look at it," Pudner said, confirming the bank was looking at a couple of potential buys, including in Africa.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved