- FAB launches UAE’s first fully featured digital wallet
- UK Finance publishes regional mortgage lending trends
- Data portability: How will it impact the financial services sector?
- NatWest committed to supporting entrepreneurs through free business accelerators
- Green Park Recruitment asks: How will Lloyds deliver on its BAME promise?
- Report shows a fifth of investors now choose SMEs over traditional stocks and shares
- Santander InnoVentures invests in start-up that processes mortgages via smartphone expired
- End of term funding scheme will increase banks’ reliance on savers, says Insignis Cash Solutions expired
- Barclays suffers full year loss for 2017 expired
- All HSBC businesses grew adjusted profits in 2017, says outgoing boss expired
- 2017 has been a landmark year for Lloyds, says Group CEO expired
- Metro bank reports first full year of profitability expired
13th February 2018
FAB secures licence to establish investment banking subsidiary in Saudi Arabia
First Abu Dhabi Bank (FAB) has secured a licence from the Capital Market Authority (CMA) to establish an investment banking subsidiary in Saudi Arabia – ‘FAB Investment KSA’.
The subsidiary is wholly owned by FAB and will provide arranging and advisory services throughout the Kingdom to both KSA corporate clients and institutions looking to access international markets. It will enable FAB to grow stronger and to enhance its regional presence.
Abdulhamid Saeed, Group CEO of FAB, said: “This is a landmark development for both FAB Group and our market-leading Corporate and Investment Banking (CIB) franchise, which opens up significant opportunities for our customers to grow.
“This development will strengthen FAB’s ability to tap into one of the largest economies and capital markets in the MENA region. As a leader in the investment banking sector, we look forward to bringing our comprehensive product suite to KSA clients as well as those looking to access the Saudi and international markets.
“The Kingdom of Saudi Arabia is widely regarded as a catalyst to ignite further economic growth across the GCC and we are delighted that ‘FAB Investment KSA’ is now licenced to operate in the Kingdom. I would like to highlight that establishing this subsidiary will further cement the strong relationship which exists between the UAE and Saudi Arabia in the financial sector.”