National Bank of Fujairah (NBF) is to take its first step out of the UAE with plans to establish a subsidiary in Hong Kong.
The lender, which has gained market share from bigger rivals by specialising in niche sectors such as precious metals, has signed an agreement with Wells Fargo of the United States to boost its trade finance business among Asian exporters.
NBF is seeking to provide goods from China with a faster route to the UAE by reducing the time it takes to process payments.
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