Emirates NBD ENBD.DU, Dubai's largest bank, is looking for acquisitions in fast-developing African markets to satisfy investor demand for growth it is unlikely to deliver at home.
The Dubai-based bank is targeting international revenues of around 15-20 percent of its total in five years' time, up from 5 percent at present, its Chief Executive Rick Pudner said in an interview at the Reuters Middle East Investment Summit.
Acquisitions are likely to play a role in this, given the difficulties of achieving organic growth in the current economic environment, Pudner said, marking a significant shift from the bank's previous strategy of building the business organically.
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