UNB making efforts to move into GCC region
ABU DHABI: Union National Bank ( UNB) will make 'big efforts' to establish a presence in the wider GCC area, with a particular focus on Qatar and Saudi Arabia after putting expansion plans on hold during the economic downturn, the bank's CEO told Arabian Business. In 2006, the Abu Dhabi based lender expanded its operations into Egypt through its acquisition of the Alexandria Commercial and Maritime Bank (now known as the Union National Bank Egypt).
"In the GCC, I think there is good potential, particularly if you talk about Qatar, Saudi Arabia and to a certain extent, Kuwait. We're trying to establish a presence there, we have a presence in Qatar, but in the other GCC countries, we're making some big efforts to establish a presence," Mohammed Abdeen said. We are not talking about emerging markets as our size does not help us grow in all these markets, " he added. -PB News