The National Bank of Fujairah’s (NBF) financial advisory service arm has opened an office in the Dubai International Financial Centre (DIFC). NBF Capital is seeking to fill a gap left by international investment banks that have reduced their presence there in the wake of the 2008 financial crisis.
“We have always wanted to carve a niche as a bespoke service for companies seeking to grow in the local marketplace and serve as a credible alternative to the multinational investment banks and consultancy firms that predominate the financial advisory space,” PB Das, a senior executive of NBF Capital, said in a statement.
“Our progress in this short span of time certainly shows that we are on the right track.”
Established last May, NBF Capital has advised companies in industries including precious metals, healthcare and manufacturing on transactions totaling Dh650 million. The advisory firm has a pipeline of transactions that exceeds Dh1 billion, it said.
mkassem@thenational.ae
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