Emirates NBD launches new branch in King Abdullah Financial District «KAFD»

Emirates NBD, the leading banking group in the MENAT (Middle East, North Africa, and Turkey) region, has opened a new branch in the King Abdullah Financial District (KAFD). In line with Emirates NBD’s strategic expansion plan, the new branch consolidates the bank’s presence in the Kingdom, extending its diverse range of services to more consumers, communities, and entities across the country.

KAFD stands as the largest LEED-certified mixed-use business district in the world. As a key driver of Riyadh’s economic ambitions, the district fosters a smart, sustainable environment conducive to innovation, collaboration, and business growth. The new Emirates NBD branch in KAFD is set to contribute to the achievement of the Kingdom’s Vision 2030 goals and drive the transformation of the country’s financial services industry.

The new Emirates NBD destination in KAFD will cater to the community workforce, high-net-worth individuals (HNWIs), and business owners. The state-of-the-art branch will provide access to Emirates NBD’s comprehensive suite of advanced products and services, including the bank’s Priority Banking, Private Banking, Business Banking, and Corporate Banking offerings.

As part of KAFD DMC’s mission to set the business district apart on the global stage as a world-class investment hub, the new, well-appointed branch will advance the growth of KAFD’s private sector ecosystem. Reflecting both Emirates NBD and KAFD’s commitment to sustainability — KAFD being the largest Platinum LEED-certified mixed-use business district in the world — the new branch is also Gold LEED Certified.

The official opening bolsters Emirates NBD’s network, increasing its total number of branches in the Kingdom to 19.

Aazar Ali Khwaja, Group Head, International & Group Strategy, Emirates NBD, said: “As the leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, we are committed to transforming the Saudi financial services sector, leveraging our expansive network, partnerships and innovative offerings to empower consumers in the Kingdom. Fully aligned with Vision 2030, we take pride in serving as a partner of choice to the country, supporting its efforts to grow the economy and safeguard its future. Our expansion plans are wholly geared towards this goal; the launch of our latest branch in KAFD contributing to Saudi Arabia’s development as a private sector powerhouse.”

Commenting on this newest addition to the KAFD tenant community, Gautam Sashittal, CEO of KAFD DMC, explained: “The financial and banking sectors in Saudi Arabia stand on a strong footing and continue to sustain its momentum. In 2023, top Saudi banks’ operating income grew by 9.5%, and the total assets are projected to reach approximately SAR 3.6 trillion by the end of this year. As a key driver of Saudi Vision 2030 for economic development, KAFD is playing a central role in contributing to this impressive growth through creating a dynamic ecosystem conducive to investment, collaboration, and expansion.”

He added: “The financial and banking sector is a cornerstone here in the district. KAFD is home to some of the Kingdom’s largest banks and financial institutions. We are thrilled to welcome Emirates NBD to our thriving business and financial community.  Emirates NBD’s strategic presence here will undoubtedly propel not only their own growth but also contribute to the continued transformation of Saudi Arabia’s financial landscape.”[MOU1]