New Delhi | May 19, 2017

H.E Dr. Ahmed Albanna (UAE Ambassador to India) met with the Governor of the Reserve Bank of India (RBI), Dr. Urjit R. Patel.

During the meeting H.E. Dr Ahmed Al Banna briefed Dr. Urijit R. Patel about UAE Financial and Banking Institutes operations in India. He informed him about the recent development of two UAE banks functional in India namely (FGB) and National Bank of Abu Dhabi (NBAD) merger to create the largest bank not only in UAE but in Middle East and North Africa region. Largest bank by asset size, equity base and market cap. The combined entity Named “NBAD” will have footprint in 19 countries with opportunity to increase client penetration beyond the MENA region. The merger will provide opportunity for not only revenue synergies but cost benefit. With more liquidity and strong capital, the merger is collectively beneficial to all stakeholders.

H.E. Dr Ahmed Albanna  mentioned that the merged entity will continue participation in the India growth story. Two branches will help the new entity expand its coverage in more efficient manner. He also thanked Dr. Patel for giving the opportunity to meet and discuss the same.

During the discussion Dr. Urjit Patel assured Ambassador full support and cooperation in expeditious implementation of ongoing bilateral cooperation.

Earlier in the meeting, both recalled the deep historic relationship between two countries.