Abu Dhabi Commercial Bank announced the expansion of its business in the Kingdom of Saudi Arabia, with the aim of contributing to the consolidation of trade and economic relations in the region.
Through its new branch in the Saudi capital, Riyadh, the bank will provide a wide and comprehensive range of banking products and services to corporate and institutional clients, according to the bank’s statement.
Including financing services and working capital solutions, in accordance with the provisions of a license to conduct the business of a foreign bank branch issued by the Central Bank of Saudi Arabia.
During the weekly meeting, chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the Saudi Council of Ministers approved licensing Abu Dhabi Commercial Bank to open a branch to practice banking business in the Kingdom.
Abu Dhabi Commercial Bank's profits in the first nine months of 2023 increased by 24 percent year-on-year.
Abu Dhabi Commercial Bank’s profits in the period ending last September 30 amounted to about 5.753 billion dirhams, compared to 4.65 billion dirhams during the same period of the previous year.
