Abu Dhabi Commercial Bank (ADCB) continues the trend of UAE mega-banks making strategic moves abroad, establishing a significant presence in Saudi Arabia. With this expansion, ADCB joins the ranks of FAB and Emirates NBD, solidifying its footprint in the largest Gulf market.
ADCB's entry into Saudi Arabia aims to capitalize on its robust balance sheet and advanced corporate banking capabilities, providing crucial support to an expanding client base. The bank has secured in-principle approval from the Kingdom’s Council of Ministers and is set to open a branch in Riyadh. Under the 'Foreign Banking Branch' license granted by the Saudi Central Bank (SAMA), ADCB will offer a range of services tailored for corporate and institutional clients, including financing and working capital solutions.
Ala’a Eraiqat, Group CEO of ADCB, emphasized the bank's commitment to supporting clients in the dynamic Saudi economy. The move aligns with ADCB's strategic business expansion plans, positioning the bank as a key player in fostering corporate growth and facilitating trusted trade and investment flows.
