UAE’s Emirates NBD opens new branch in Khobar

UAE-based Emirates NBD has expanded its presence in Saudi Arabia with the opening of its first branch in Khobar in the eastern province, the bank said in a statement on Sunday.

It now covers three key regions in the Kingdom with a presence in Riyadh, Jeddah and Khobar.

The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.  

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al Qassim, vice-chairman and managing director of Emirates NBD.

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program which aims to promote financing to small and medium enterprises (SMEs) within the Kingdom.