Woori Bank opens first bank in Dubai and plans expansion

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Woori Bank opens first bank in Dubai and plans expansion

Woori Bank has become the first commericial bank to open a branch in Dubai, marking a milestone for the bank in the Middle East. The bank said yesterday the Dubai branch will help finance Korean businesses operating in the city, which is the largest in the United Arab Emirates. After the UAE, Woori Bank plans to expand into Turkey, Iran, Iraq and Egypt.

“The bank will serve as a bridge between Korea and Dubai in terms of boosting investment and providing various financial services,” CEO Lee Soon-woo said at a ceremony in Dubai yesterday. The bank currently has 65 branches in 17 countries.

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