Nigerian lender Zenith Bank has unveiled plans to expand into Dubai to serve its customers in trade and service sectors.
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Zenith Bank CEO Peter Amangbo told CNBC Africa on the side lines of the World Economic Forum (WEF) Africa in Cape Town: "We are in the process of finalising the establishment of an office in Dubai. Dubai will be a subsidiary of Zenith Bank UK as the country will be a gateway into Asia.
"Because the volume of business between Nigeria and many Asian countries has increased over time we believe that Dubai would be a very good point to service our customers especially when it comes to trade and services."
Amangbo has greeted the biometric verification system in the financial sector with a positive note as it presented growth prospects in the financial space.
He added: "The biometric verification number system itself as a project is a very loadable one and would be a very good foundation for Nigeria through which it can drive growth in the banking business even to the unbanked."
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