Mubasher: The National Bank of Kuwait (NBK) plans to hire hundreds of Saudi bankers and expand through opening several branches in the Kingdom, Bloomberg reported.
“NBK, as the bank is known, aims to expand in Riyadh and Dammam by the end of next year,” NBK International Banking Group's CEO George Richani said.
The Kuwaiti bank inaugurated its first branch in Jeddah in 2006, Richani added, noting that NBK plans to establish branches in India and Germany.
The bank’s subsidiary, the National Bank of Kuwait - Egypt (NBK) plans to open four or five branches in Egypt, NBK Egypt’s managing director, Yasser Hassan stated.
The bank forecasts a 20% increase in loans in 2018 due to a widely-expected decrease in interest rates and a recovery in economic growth, Hassan concluded.
