State-owned National Bank of Abu Dhabi (NBAD) already operates in 13 countries and plans to add three more each year during the next 10 years, a sign of its intent to broaden its global footprint from an already extensive platform that spans major Middle Eastern markets – including 29 branches in Egypt – as well as Hong Kong, the US, the UK, France and Switzerland.
Unlike some banks in the region that are growing inorganically, NBAD sees its expansion primarily as 'build rather than buy'. The aim is to grow in areas where it has not yet obtained the right level of market share – and where it perceives its proposition as sufficiently compelling. This means addressing the small and medium-sized enterprise (SME) market, the Dubai market and the expatriate market, says Michael Tomalin, group chief executive of NBAD.
