Yesterday a Senior Executive from ABN Amro BANK N.V. stated that now that the Bank has just moved its operations to the Dubai International Finance Centre they are hoping that this will assist them in extending their portfolio to include some more regional clients.
At present the Bank is a key player in the Middle East UAE Market, Singapore and Hong Kong however they are now hoping to expand on these core markets. Now they hope to concentrate more on the UAE, Qatar and on a smaller scale on Bahrain and Oman. At a press conference yesterday the chief investment officer for the bank told reporters that the bank currently is laden down with emerging market equities and high-rated corporate bonds.
The Bank now plan to alleviate this situation somewhat by streamlining their services. He went on to state that at present the bank are laden down with 40 global corporate bonds including those of the Commercial Bank of Qatar, Qtel(Qatar Telecom) and the National Bank of Abu Dhabi. The Banks global assets at present totals approximately ae120 billion and of this figure more than 30% is from the emerging markets. The Banks main policy going forward is going to be to free up some of this money and spend more time working the markets.Paul Holdsworth, Staff Writer, Gulf Jobs Market News