Emirates NBD

The holding company of Emirates Bank International (EBI) and National Bank of Dubai (NBD), Emirates NBD was formed as a result of a merger between the two banks.

It provides banking, financial and investment services across the Gulf and abroad. These services include banking in the private, investment, retail, corporate, and Islamic sectors and asset management.

Emirates NBD operates through a network of 115 branches across the UAE and through subsidiaries and representative offices in Saudi Arabia, Qatar, the UK, Jersey, India, Iran and Singapore.

In an attempt to boost its regulatory capital ratios, the bank said earlier this month it would exchange $1bn medium term bonds for shorter term bonds.

The bonds in question, which were issued in 2006, were due to mature in 2016 and are trading below face value for shorter term bonds that mature in 2012.