Doha Bank (QSC: DHBK) as part of its expansion plans has opened a regional branch in Abu Dhabi following the upgrade of its license to a 'full branch' status, the Qatari bank has said.
The United Arab Emirates (UAE) Central Bank Governor Sultan bin Nasser Al Suwaidi attended an inaugural reception hosted by Doha Bank, Abu Dhabi at Emirates Palace Hotel recently.
Doha Bank Board of Directors Chairman HE Sheikh Fahad bin Mohammad bin Jabor Al Thani; Doha Bank Vice Chairman Ahmed Abdul Rahman Yousuf Obaidan Fakhroo; Doha Bank Managing Director HE Sheikh Abdul Rehman bin Mohammad bin Jabor Al Thani and Doha Bank Group Chief Executive Officer Dr. R Seetharaman along with other dignitaries attended the opening.
During the inaugural reception, HE Sheikh Fahad bin Mohammad bin Jabor Al Thani thanked UAE Central Bank Governor for his patronage and support.
Speaking at the event, Dr R. Seetharaman said, "Qatar's economic growth is expected to be around 6% in 2012 and moderate to 4.5% in 2013. The non-hydrocarbon sector is seen maintaining momentum through to 2013.
"The UAE is also expected to grow by around 4% in 2012. UAE federal budget for 2013 focuses more on social spending, education, water and electricity. Qatar budget 2012-13 will focus on education health and housing. Qatar UAE bilateral trade was close to $2 Billion in 2011 and is expected to increase in 2012."