Doha Bank
DHBK
DHBK
QNB
QNBK
QNBK
DIB
DIB
DIB
Emirates NBD
EMIRATESNBD
EMIRATESNBD
FAB
FAB
FAB
FGB
FGB
FGB
Gulf banks are quickly replacing European lenders in expansion within the Middle East region as well as within some of the fast growing emerging markets in Asia and Africa as part of their frameworks to improve the health of their balance sheets and strong support from shareholders, reported Gulf Base.
Banks from the Gulf Cooperation Council (GCC), particularly those from the UAE and Qatar, are in the limelight of overseas expansion. GCC-based banks in general are also establishing small branches and representative offices across Asia to capitalise on the increasing trade flow between the GCC and the Asia–Pacific region.
First Gulf Bank (FGB) announced last month that it has a new representative office in South Korea as part of plans to expand its presence in Asia Pacific. Moreover, the bank is mulling expansion plans in China and Indonesia.
The National Bank of Abu Dhabi (NBAD) said it was planning to set up a regional financial base in India before the end of this year as part of its overseas expansion strategy.
Furthermore, in June 2014, Dubai Islamic Bank (DIB) completed its acquisition of a 24.9% stake in Bank Panin Syariah, an Islamic bank from Indonesia. The bank said that it was in the process of acquiring a total of a 40% stake in Bank Panin Syariah.
Meanwhile, Emirates NBD, which announced that it had completed its acquisition of BNP Paribas' Egyptian assets last year, said that it has always maintained that it is open to overseas acquisitions or expansion where opportunities are good.
Qatari banks too have been seeking overseas expansion to cut dependence on local markets and access trade flows across the Middle East, Africa and Asia. During the last two years Qatari banks have been regional leaders in overseas acquisitions.
Qatar National Bank (QNB) is present in more than two dozen countries. With its acquisition of NSGB in Egypt and the opening of the offices in India and China, QNB's international assets rose sharply last year.
Moreover, Doha Bank, which has already opened representative offices and branches in Kuwait, Dubai, Abu Dhabi, Japan, China, Singapore, South Korea, Australia, Turkey, the UK and Canada, said it is expanding its presence in Hong Kong, India and Saudi Arabia.
Banks from the Gulf Cooperation Council (GCC), particularly those from the UAE and Qatar, are in the limelight of overseas expansion. GCC-based banks in general are also establishing small branches and representative offices across Asia to capitalise on the increasing trade flow between the GCC and the Asia–Pacific region.
First Gulf Bank (FGB) announced last month that it has a new representative office in South Korea as part of plans to expand its presence in Asia Pacific. Moreover, the bank is mulling expansion plans in China and Indonesia.
The National Bank of Abu Dhabi (NBAD) said it was planning to set up a regional financial base in India before the end of this year as part of its overseas expansion strategy.
Furthermore, in June 2014, Dubai Islamic Bank (DIB) completed its acquisition of a 24.9% stake in Bank Panin Syariah, an Islamic bank from Indonesia. The bank said that it was in the process of acquiring a total of a 40% stake in Bank Panin Syariah.
Meanwhile, Emirates NBD, which announced that it had completed its acquisition of BNP Paribas' Egyptian assets last year, said that it has always maintained that it is open to overseas acquisitions or expansion where opportunities are good.
Qatari banks too have been seeking overseas expansion to cut dependence on local markets and access trade flows across the Middle East, Africa and Asia. During the last two years Qatari banks have been regional leaders in overseas acquisitions.
Qatar National Bank (QNB) is present in more than two dozen countries. With its acquisition of NSGB in Egypt and the opening of the offices in India and China, QNB's international assets rose sharply last year.
Moreover, Doha Bank, which has already opened representative offices and branches in Kuwait, Dubai, Abu Dhabi, Japan, China, Singapore, South Korea, Australia, Turkey, the UK and Canada, said it is expanding its presence in Hong Kong, India and Saudi Arabia.
Source:
Mubasher
