First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, 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.”

He added: ”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.”

About First Abu Dhabi Bank (FAB)

FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.

Headquartered in Abu Dhabi in Khalifa Business Park, the bank’s international network spans over 19 countries outside the UAE, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad.

In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience, and will support the growth ambitions of its stakeholders across countries in which the bank operates.

To empower its customers and clients to Grow Stronger, FAB initiated a powerful movement, which goes beyond banking. The Grow Stronger movement represents the bank’s promise to support its stakeholders’ goals and growth ambitions, providing ideas, tools and expertise to help them become stronger, today and in the future.

Based on audited financial information as at December-end 2017, FAB had total assets of AED 669 Billion (USD 182 Billion). FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Financeâ as the safest bank in the UAE and the Middle East, 4th in emerging markets, 17th amongst commercial banks worldwide, and 31st in the world. Through a strong, diversified balance sheet, leading efficiency and a solid corporate governance structure in place, FAB is set to drive growth forward.

© Press Release 2018