First Abu Dhabi makes China expansion a priority
- Date: 29-Feb-2024
- Source: AGBI
- Sector:Financial Services
- Country:UAE
First Abu Dhabi makes China expansion a priority
First Abu Dhabi, the UAE’s largest bank by assets, plans to triple revenue from its operations in China by 2026. FAB is the only fully licensed UAE-based bank in mainland China and considers growth in the country a “priority” after revenue rose by 50 percent last year to about AED100 million ($27 million). Group CEO […]
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First Abu Dhabi, the UAE’s largest bank by assets, plans to triple revenue from its operations in China by 2026.
FAB is the only fully licensed UAE-based bank in mainland China and considers growth in the country a “priority” after revenue rose by 50 percent last year to about AED100 million ($27 million).
Group CEO Hana Al Rostamani said the bank is committed to expanding its business in China while fostering Chinese engagement in the GCC and Egypt.
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“We look forward to facilitating more vital corridor trade and investment between the two regions,” she added.
China was the UAE’s largest trade partner in the first half of 2023, with non-oil bilateral trade exceeding $38 billion.
Both sides