Abu Dhabi/Washington D.C. (August 19, 2014) – The National Bank of Abu Dhabi (NBAD) has renamed its wholly-owned subsidiary in the Americas to NBAD Americas N.V.
NBAD established the subsidiary in Curacao in 1979 as Abu Dhabi International Bank N.V., and launched a federal branch in the U.S. capital, Washington, D.C. in 1981.
“NBAD Americas has been a great facilitator of business between the United Arab Emirates and the United States, this business has been an important component of our international operations,” says Qamber Al Mulla, the Senior Managing Director & CEO of Gulf & International of NBAD. “NBAD Americas is an integral part of our vision to ‘be recognized as the World’s Best Arab Bank’ as we adhere to our mission to be core to our chosen customers.”
NBAD Americas provides all facets of corporate and institutional banking, such as trade finance, commercial lending, financial markets and correspondent banking. It also serves UAE investors who invest in the U.S., and U.S. companies who do business in the UAE and other countries where NBAD has a presence.
“NBAD Americas serves a very impressive client base comprised of top companies located throughout the U.S. and active in the defense, oil and gas, construction and engineering fields; we are proud and happy to continue serving our distinguished clients with the same superior service that they have been accustomed to receiving from us,” says Nagy Kolta, the Country CEO and Managing Director of Wholesale Banking – USA. “As bilateral trade between the US and UAE firms continues to rise, and as NBAD expands its wholesale banking business globally, NBAD Americas will continue to be an important contributor to NBAD’s operations.”
NBAD’s growth approach is founded in its West-East Corridor strategy, where the Bank aims to benefit from NBAD’s strong fundamentals and the UAE’s strategic location to tap into the growing economies that span from West Africa across to East Asia. The Corridor includes increasingly important economies in MENA, the Indian Subcontinent, Southeast Asia and greater China. This region represents vast potentials with significant natural resources, growing economic activities, and an emerging middle class.
A pillar of the Bank’s strategy is to deepen its wholesale network across the West-East Corridor and to integrate it with the existing European and American platforms.
NBAD’s growing international network is in 18 countries across five continents; stretching from China and Hong Kong in the Far East to Malaysia in Southeast Asia; Oman, UAE, Kuwait, and Bahrain in the G.C.C.; Jordan and Lebanon in the Levant; Egypt, Sudan, and Libya in Africa; France, Switzerland, Channel Islands, and UK in Europe; the USA in North America, and Brazil in South America.
The change in name does not affect the legal structure, or rights or obligations of, Abu Dhabi International Bank N.V.