Abu Dhabi Commercial Bank (ADCB) announced plans to open a representative office in Singapore later this year, following recent approval from the Monetary Authority of Singapore.
The office, which will be located in Singapore’s Central Business District, will serve to help facilitate and grow ADCB’s future set of global offerings for existing and prospective clients, thus creating an important foothold in the Southeast Asian financial markets.
Colin Fraser, Head of Wholesale Banking Group at ADCB said, “Singapore is a vital business crossroads of the world, and with Southeast Asia continuing to benefit from positive trade flows with the Middle East, it is natural and appropriate that ADCB establishes presence there, in-line with our overall strategy for an increased international presence that will build over time”.
The move to establish ADCB’s presence in Southeast Asia comes just five months after its launch of a representative office in London, and marks yet another milestone in ADCB’s growth trajectory.
Source : WAM News Agency for United Arab Emirates
