FAB secures licence to establish investment banking subsidiary in KSA
First Abu Dhabi Bank (FAB), the UAE’s largest bank, 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.
“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,” said Abdulhamid Saeed, Group CEO of FAB.