Emirates NBD (ENBD), the GCC's biggest bank by assets, was formed in October 2007 following merger of Emirates Bank and National Bank of Dubai. The group has a presence in the UAE, Saudi Arabia, Qatar, the United Kingdom and Jersey (Channel Islands), and representative offices in India, Iran and Singapore. At the end of 2007 total assets were AED 253.8 billion, giving it a market share of 20.5%.