The National Bank of Abu Dhabi (NBAD) opened a new business banking centre in Abu Dhabi’s Mina area in heels of the Bank’s success in acquiring new small- and medium-sized enterprise (SME) clients in 2011.

Mohammed Omar Abdullah, Undersecretary of the Department of Economic Development - Abu Dhabi (DED), and NBAD board member; Saif Ali Al Shehhi, the Senior General Manager of the Domestic Banking Division of NBAD and senior executives of the bank inaugurated the new business centre.

"We have significantly increased accounts, deposits and loans so far this year. This has been accomplished through the many SME-exclusive new products and services the National Bank of Abu Dhabi launched this year as well as our business banking centres that serve this sector," said Haitham Al Refaie, the Head of Business Banking Group at NBAD. "This shows that SME sector is still under-penetrated by the banking industry; however, NBAD continues to focus on serving it, which offers a valuable service to SMEs, who are the backbone of the economy; and provides the Bank a solid vehicle for growth." In the first half of 2011, NBAD acquired about 3,000 new SME accounts and increased SME deposits by AED 1.15 billion; and loans rose by AED 400 million.

"The business banking centres that we have been opening since the beginning of the year have been very crucial in our strategy to serve SMEs because these centres are specifically designed and staffed to serve this segment.

"NBAD plans to have 14 dedicated business banking centres throughout the UAE by the end of 2011, which is in line with our strategic objective to serve this significant sector," Al Refaie added.

NBAD plan to launch two (2) more business banking centres in Dubai and one in each of the Emirates of Sharjah, Ajman, Ras Al Khaimah/Umm Al Qaiwain, and Fujairah this year.

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