Kuwait's Largest Lender Plans Saudi Arabia, Egypt Expansion - Bloomberg:
"National Bank of Kuwait, the country’s largest lender, plans to hire hundreds of people and open more branches in Saudi Arabia and Egypt as it targets growth in the Middle East’s biggest markets. NBK, as the bank is known, will open in Riyadh and Dammam by the end of next year after opening its first branch in Saudi Arabia in 2006. The bank’s Egyptian unit also aims to have 60 branches in the most populous Arab country by 2020, up from 43 currently, and will open four or five next year. “We started focusing our regional growth on more stable markets in the Middle East, namely GCC countries -- Saudi Arabia and the U.A.E. -- in addition to Egypt,” Group Chief Executive Officer Isam Al Sager said in an interview in Cairo late on Sunday. “We have one operating branch in Saudi Arabia and just received required approvals to open two more branches in the kingdom.” "
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