Economics
Kuwait's Largest Lender Plans Saudi Arabia, Egypt Expansion
- National Bank of Kuwait seeks to hire ‘hundreds’ of bankers
- Lender is focusing growth plans on stable GCC markets
A bus and an automobile drive along an empty road past commercial office buildings in Kuwait City, Kuwait.
Photographer: Tasneem Alsultan/BloombergThis article is for subscribers only.
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.