UAE bank NBAD targets Africa, Asia for wealth management growth

April 12, 2015 7:28 AM

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ABU DHABI, April 12 (Reuters) - National Bank of Abu Dhabi is seeking to expand its wealth management business in Africa and Asia, as it looks to maintain strong growth at a time when its home region is being impacted by political and economic uncertainty.

The largest lender by assets in the United Arab Emirates saw profit and revenue posted by its global wealth unit jump 61 percent and 89 percent year on year respectively in 2014, with revenue surpassing 1 billion dirhams ($272.3 million) for the first time.

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