RBS re-affirms commitment to MENA

The Royal Bank of Scotland has now officially opened its corporate banking branch in Emaar Square, Dubai. The branch, which was previously located in Bank St, is an integral part of RBS’s corporate banking operations in the UAE and accommodates a corporate branch, transaction services and global networking sales teams.

The inauguration was overseen by Simon Penney, CEO RBS Middle East and Africa, with the official ribbon cutting being carried out by the Rt Hon The Lord Mayor of the City of London, Alderman David Wootton, accompanied by Guy Warrington, HM Consul General, British Embassy Dubai.

Commenting at the event, the Lord Mayor said, “I am delighted to have been asked to officially open the RBS Corporate Branch in Dubai, which is yet another demonstration of the growing links between London and Dubai. RBS and the UK are committed to broadening our longstanding financial ties with the UAE and I am confident that the talented individuals who work at RBS will do just that.”

Simon Penney said, “This is yet another significant milestone for RBS in the UAE. It is a strong indication of our commitment to the region. The official opening of our Emaar Square Branch ensures our corporate clients continue to receive first class products and services in a key central location.

“Along with the official branch opening, RBS’s Middle East business has started 2012 in a strong position with two key deals announced. RBS acted as Dolphin Energy’s structuring advisor and joint bookrunner on a $1bn offering and as a joint bookrunner on a benchmark five-year $500m Sukuk offering on behalf of Emirates Islamic Bank. We are delighted to have started the year in such a positive way.”