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10 December 2023

We seek further expansion in UAE, Europe, East Asia: Deputy Head of NBK's International Banking Group


Zaid Isam Al Sager, Deputy Head of the International Banking Group of the National Bank of Kuwait (NBK), said the bank is seeking further regional and global expansion, especially in the UAE, which is one of the bank's important major markets.

On the sidelines of the third day of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023, Al Sager told the Emirates News Agency (WAM) that the NBK has formed partnerships with major Emirati institutions, including public companies such as Mubadala, ADQ Holdings, the Abu Dhabi National Oil Company (ADNOC) and the Emirates National Oil Company (ENOC).

Al Sager explained that the bank currently has two branches in the UAE, one in Abu Dhabi and another in Dubai, and plans to add new branches in the future as its business grows and with the existence of many major projects, noting that the bank's network includes international branches and subsidiary companies in several leading cities and capitals worldwide, such as London, New York, Paris, Geneva, Singapore, and Shanghai.

The expansion of the bank's operations exceeds geographical boundaries and extends beyond the Middle East, with a focus on all economic sectors, especially the oil and gas sector, which is of great importance, especially in the Gulf Cooperation Council (GCC) countries, he added, pointing out that East Asian and Gulf countries are witnessing significant growth in terms of major projects, especially the UAE and Saudi Arabia.

The bank has a clear strategy for global and regional expansion and aims to focus on government-owned companies and their subsidiaries, as well as non-governmental companies with significant financial resources, he further added, noting that the GCC region receives the lion's share of the financing provided by the NBK, in addition to its financing activities in other countries outside the region.