Media ININ Economy We Trust
Media In – Abu Dhabi, March 20, 2018
Abu Dhabi First Bank has been licensed by the Saudi Arabian Monetary Agency to provide commercial banking services to individuals and companies in Saudi Arabia as part of its growth strategy.
The current license allows ADIB to operate a maximum of three branches in the Kingdom following the recent approval by the Capital Market Authority of the establishment of Abu Dhabi First Investment Company, a subsidiary of the Bank, which will provide investment services to customers.
HH Sheikh Tahnoon bin Zayed Al Nahyan, National Security Advisor and Chairman of Abu Dhabi First Group, said: “We are proud to receive the license from the Saudi Arabian Monetary Agency (SAMA) through which we will increase the retail and corporate banking network in Saudi Arabia, To the Abu Dhabi First Group and a key element in the bank’s aggressive international expansion strategy. ”
“This is in addition to the license we obtained earlier this year to set up an investment banking company that will move us towards the next phase of the growth plan in the Saudi market and by providing new growth opportunities for the region’s customers.” This addition is another catalyst for further growth. For the Saudi economy as well as supporting strong relations between the two countries.
