First Abu Dhabi Bank targets Saudi Arabian market
( MENAFN ) First Abu Dhabi Bank was revealed by a senior executive to be anticipating an expansion in the banking market of Saudi Arabia within this year.
FAB's group head of subsidiaries, strategy and transformation Karim Karoui confirmed the bank to have sent a request for a commercial banking license in Saudi Arabia.
The bank was granted not long ago an approval from Saudi Arabia's regulator, allowing it to carry out the process of preparing and advising activities in the securities sector.
The aspiration has surfaced when several other global banks worked to boost their status in Saudi Arabia, with those banks including Citigroup C.N and Goldman Sachs C.N.
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