NBAD Private Bank to set up trade finance unit

NBAD Private Bank, the private banking arm and wholly-owned subsidiary of the National Bank of Abu Dhabi (NBAD Group), has decided to set up trade finance services in Geneva.
The bank has been incorporated under Swiss banking laws, and it will begin offering its new trade finance services from April 2008.

The decision to launch the service was taken during the first meeting of the board of NBAD Private Bank in Abu Dhabi.

The bank was launched in June 2007 to offer full private banking services. It is supported by local private teams in the UAE.