Emirates NBD, a leading bank in the Middle East region, announced the appointment of Sharad Agarwal as the Chief Representative and Country Head for India.
In his new role as India Chief Representative, Agarwal will oversee Emirates NBD’s presence in India, and take the overall responsibility to increase market awareness about the bank. This will underline Emirates NBD’s strategic objective to further capturing a greater share of bilateral trade flows, and also identifying other business opportunities.
India emerged as one of the biggest trading partners of the United Arab Emirates, with total trade volumes between both nations reaching US$75 billion in 2012-2013. The growing India-UAE economic and commercial relations provide further impetus to Emirates NBD’s operations in India.
In his new role, Agarwal will report to Kevin Flannery, General Manager-International, Emirates NBD.
Commenting on the appointment, Kevin Flannery said: “India represents a significant opportunity for Emirates NBD given the strong bilateral relations between both countries, and we are pleased to appoint Sharad Agarwal as the Chief Representative and Country Head for India. He has been an integral part of Emirates NBD, where he has held several positions during his long-standing career with the bank. Moreover, building upon his strong banking experience, Sharad will play a vital role in identifying opportunities for the bank to expand our presence further in the country, whilst further boosting trade ties between both countries.”
Agarwal previously headed Trade Sales, Factoring and Escrow business for Emirates NBD Group based at the bank’s Head Office, Dubai.
As part of the new mandate, Agarwal will work closely with financial institutions and government entities in India, as well as local corporates who wish to expand operations to Emirates NBD’s core market locations. Emirates NBD currently has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Qatar, Singapore and the United Kingdom in addition to representative offices in India, China, and Indonesia.
The strengthening of the India presence is the latest in a series of strategic steps that Emirates NBD is taking to expand internationally. Following the acquisition of BNP Paribas Egypt in 2013, Emirates NBD extended its banking operations to Egypt to offer a wide range of financial services through a network of 70 branches across the country. The establishment of Emirates NBD Egypt brings together the bank’s local expertise, customer base and knowledge of the Egyptian market with the regional strength of the Emirates NBD brand.
The bank’s global expansion journey started in 2004, when it became the first international bank to obtain a license to operate in the Kingdom of Saudi Arabia. Through a full-fledged branch in Riyadh, Emirates NBD offers a wide range of retail and investment services to KSA-based clients. In the decade since it set up operations, Emirates NBD KSA has achieved a large client base, to become one of the leading international banks in the Kingdom.
Tuesday, July 15- 2014 @ 14:19 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.