The UAE’s largest lender, National Bank of Abu Dhabi (NBAD) has announced plans to recruit 450 people in 2014 to boost its retail and commercial banking business, Bloomberg has reported. This will include around 180 people to sell retail products such as mortgages and personal loans, as well as luring customer deposits, CEO Alex Thursby told the news service. NBAD, which recruited a five-member trade finance team from HSBC Holdings, is seeking to boost the bank’s position in retail banking in the UAE to the top three by 2018, compared with the current ranking of fifth. The bank is also building hubs in eight global cities to tap an expanding middle class and growing trade and investments flows within a “west-east corridor” that extends from west Africa to the east coast of China.
Monday, May 5- 2014 @ 10:30 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.