ADCB to expand to Saudi Arabia after winning bank licence

ADCB to expand to Saudi Arabia after winning bank licence

Abu Dhabi Commercial Bank (ADCB) has unveiled plans to open a branch in Riyadh after being awarded a banking licence by Saudi Arabian authorities.  The lender says it plans to provide a range of services, including financing and working capital solutions, to corporate and institutional clients.  Having obtained approval from the Saudi Council of Ministers, ...

The post ADCB to expand to Saudi Arabia after winning bank licence appeared first on Global Trade Review (GTR).Abu Dhabi Commercial Bank (ADCB) has unveiled plans to open a branch in Riyadh after being awarded a banking licence by Saudi Arabian authorities. 

The lender says it plans to provide a range of services, including financing and working capital solutions, to corporate and institutional clients. 

Having obtained approval from the Saudi Council of Ministers, ADCB will now fulfil technical and regulatory requirements set out by the kingdom’s central bank before commencing operations. 

Group chief executive officer Ala’a Eraiqat says the move is a “proud milestone” for ADCB. 

“The bank’s decision to establish a presence in the kingdom aligns with the accelerated expansion of our business,” he says. 

“Harnessing the strength of our relationships across the region, we are dedicated to being a positive force for corporate growth and a trusted facilitator