"National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, is looking at acquisitions as part of a plan to more than double the proportion of profits it makes from abroad over the next ten years.
The majority government-owned bank wants to be in 41 countries by 2021, compared with 14 now, and plans to expand in the Gulf region as well as further afield in Africa and Asia, the head of its international banking division told Reuters.
"In five years the international banking division should contribute 25 percent of the bank's operating profit and 40
percent in ten years," Qamber Ali al Mulla said in an interview.
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