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The National Bank of Abu Dhabi (NBAD) plans to launch eight new business banking centers during the current year to further serve small- and medium-sized enterprises (SME) in the UAE. Since last year NBAD Business Banking has opened 10 Business Banking Centres all over the UAE. "NBAD realised the potentials for growth in SMEs, which for long had been treated as part of consumer banking, however, what distinguished NBAD strategy in serving this segment is that we positioned NBAD stronger financial standing during crisis to invest in serving SMEs," said Haitham AlRefaie, the Head of Business Banking Group at NBAD.
In just over a year, the numbers show that NBAD's strategy has work. NBAD increased SME customers by about 8000, an increase of 54%, between the end of 2010 and March 31, 2012. These customers hold multiple products with NBAD. "About a year and half ago our approach was to devote resources to understand this sector and use professionals who are experienced and specialised in serving SMEs. "The NBAD Business Banking Centres recognise the unique needs of SMEs. The set-up, the environ is designed to allow one-to-one, confidential interaction so our professionals can understand each client's business model and explain our products that meet each need," he added NBAD has so far opened four Business Banking Centres in Abu Dhabi, four in Dubai, and one each in Al Ain, and Sharjah. The bank will open at least five more centres in the coming months in Ajman, RAK, Fujairah, and Western Region. NBAD also introduced in 2011 Business Rent Finance, which offers short term advance from AED 25,000 to AED 500,000 to cover rent expenses.
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