BMI Bank opens new branch in Bahrain
Manama, December 20, 2012
Bahrain-based BMI Bank, a leading retail and commercial banking institution, has opened a new branch and ATM facility in the Tubli area of the kingdom.
"We had a very small branch here but it wasn't serving our customers well, so we had to find them a better place," BMI Bank chief executive Jamal Al Hazeem was quoted as saying by our sister publication, the Gulf Daily news.
"Salmabad is also part of our strategy to be closer to small and medium sized enterprises," he added.
BMI Bank will consider greater retail expansion, following an assessment study after opening of their 10th branch next year.
"We're trying to serve our customers through our branches and our network of ATMs," he said.
"After opening our 10th branch next year, we will assess our operations and then we will determine whether we need more branches or relocate some of the ATMs or whether we need more of these machines," he added.
BMI Bank was recently appointed exclusive financial adviser and arranger for Bahrain Air's proposed capital increase. The aviation sector in the region presented much opportunity for a turnaround despite a gloomy global outlook, said Al Hazeem.
"BMI Bank is helping Bahrain Air raise capital as it is going through an expansion phase, especially when it's trying to obtain rights to fly out of Saudi Arabia," he said on the sidelines of the opening. When it does obtain that, the airline will require capital in order to increase its fleet and we will hopefully help them raise the required money."
Investment in technology was also required for banking institutions to stay ahead of the curve and better serve the needs of their customers, said Al Hazeem.
"We will focus more on telephone banking, e-banking and a number of virtual banking options, which won't require you to physically visit a branch," he said. – TradeArabia News Service