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National Bank of Kuwait, the country's largest lender, plans to hire hundreds of people and open more branches in Saudi Arabia and Egypt as it targets growth in the Middle East's biggest markets.NBK, as the bank is known, will open in Riyadh and Dammam by the end of next year after opening its first branch in Saudi Arabia in 2006 . The bank's Egyptian unit also aims to have 60 branches in the most populous Arab country by 2020, up from 43 currently, and will open four or five next year.NBK is among Gulf-based lenders looking to expand regionally to beat the limitation of small home markets and build their investment banking businesses to compete with bigger foreign rivals.Egypt is also a growth opportunity for NBK as it recovers from a period of instability, Sager said.
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