UAE's Largest Bank Launches Saudi Ops With Riyadh Branch

First Abu Dhabi Bank (FAB), the UAE's largest bank, has officially inaugurated its Saudi Arabia operations by opening its first branch in Riyadh.
The new branch, located in Al Cayan Tower, joins FAB’s international network which spans five continents.
Sheikh Tahnoun bin Zayed Al Nahyan, chairman of First Abu Dhabi Bank, said: "It gives me great pleasure to open our first Saudi Arabian branch and make a further contribution towards the kingdom’s growth story by financing businesses, providing financial services to individuals and investing in the digital economy.
"Our expansion into Saudi Arabia represents an important milestone in our international business strategy as well as a testament to the strong ties between the UAE and Saudi Arabia."
He added: "The kingdom is of strategic importance to both FAB and the UAE, and it is for that reason we chose Saudi Arabia as the first destination in our international expansion plans since our merger."
Dr. Ahmed Abdulkarim Alkholifey, Governor of the Saudi Arabian Monetary Authority, said that the opening of the FAB branch coincides with an "unprecedented period" in the Saudi financial sector in line with the objectives of Saudi Vision 2030.
First Abu Dhabi Bank on Monday reported a record net profit of AED3.1 billion ($840 million), up 4 percent year-on-year.
Operating income at AED4.9 billion was up 3 percent quarter-on-quarter and 1 percent year-on-year while operating expenses totalled AED1.3 billion.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
Saudi Arabia, UAE Leads $9.47bn MENA Sustainable Bond Market In H1 2025
Higher global interest rates and a pause in deals from Egypt and Qatar contributed to the lower volume, despite continu... Read more
UAE Pet Insurance: Is It Really Worth It? Experts Weigh In
With veterinary costs rising and more residents embracing pet ownership, insurance is becoming a growing consideration ... Read more
PIF Launches Tasama To Boost Saudi Entrepreneurship And Tech Ecosystem
New PIF-owned entity Tasama aims to transform Saudi Arabia’s business services sector, support startups, attract glob... Read more
UAE Central Bank Fines Bank AED3 Mn For AML Violations
The sanctions result from the CBUAE's examinations, which revealed the bank's failure to comply with the central bank i... Read more
Saudi Arabia Warns Businesses To File Excise Tax Returns By July 15 To Avoid Fines
ZATCA urges Saudi excise taxpayers to file May–June 2025 returns by July 15 to avoid penalties Read more
Abu Dhabis Lunate Adds HSBC As Its First International Authorised Participant For ETFs
The appointment will enhance liquidity and trading accessibility for public investors in Lunate’s range of UCITS and ... Read more