The National Bank of Abu Dhabi, or NBAD, launched its wholly owned subsidiary National Bank of Abu Dhabi Malaysia Berhad (NBAD-Malaysia) in Kuala Lumpur, expanding NBAD’s global network to 14 countries.

“The opening of NBAD’s first branch in Southeast Asia is a major step for the National Bank of Abu Dhabi. Southeast Asia is one of the fastest growing regions of the world with a strong commercial link to the UAE and Gulf Cooperation Council (GCC),” said Qamber Ali Al Mulla, senior general manager of International Banking Division of NBAD.

“Malaysia represents a strategic importance as a regional hub. The move demonstrates our confidence in the local market and in our ability to provide excellent products and services in the region.”

The UAE was Malaysia’s biggest trading partner in the GCC in 2011 with Dh24.42 billion of trade flows. Bilateral trade with the GCC stood at Dh50.76 billion.

“We are strategically positioned to bridge Arab business interest with Malaysia and to promote bilateral trade and investments as we have a firm foothold in the UAE complemented by a strong presence in the GCC and MENA regions,” said Leong See Meng, the chief executive officer of NBAD-Malaysia.