Abu Dhabi National Bank opens subsidiary in Malaysia

The National Bank of Abu Dhabi has opened its wholly-owned subsidiary, National Bank of Abu Dhabi Malaysia Bhd, in Malaysia, marking its expansion to a total of 14 countries. The bank said Southeast Asia was one of the world's fastest-growing regions with a strong commercial link to the United Arab Emirates and the six-nation Gulf Cooperation Council (GCC). "Malaysia represents a strategic importance as a regional hub. The move demonstrates our confidence in the local market and in our ability to provide excellent products and services in the region," says Qamber Ali Al Mulla, the bank's Senior General Manager (International Banking Division) in a statement. The UAE was Malaysia's biggest trading partner in the GCC last year with RM21.06 billion trade flows while bilateral trade with the GCC stood at RM 43.76 Billion, said Malaysian news agency "Bernama".