(MENAFN) Sources revealed Bank of New York Mellon Corp to be seeking an expansion in Saudi Arabia with setting up an office there, while it aims to open the door for Saudi overseas assets to be served.
Sources have also reported BNY to be one of the most recent foreign banks that are seeking their status in Saudi Arabia to be strengthened with a major reform attempt.
The bank stated "BNY Mellon has been exploring opportunities and the possibility of establishing a presence in the Kingdom of Saudi Arabia for some time."
It added "these plans are still in development stage. Accordingly, we are not in a position to discuss our future plans at this time."
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