UPDATE 1-First Abu Dhabi Bank to start commercial banking in Saudi this year | Reuters:
First Abu Dhabi Bank (FAB), the largest lender in the United Arab Emirates by assets, said on Monday it will launch commercial banking operations in Saudi Arabia by the end of this year.
The bank, which was granted a commercial banking licence in Saudi Arabia earlier this year, has been expanding its staff in the kingdom as it seeks to benefit from the government’s drive to move the economy beyond oil revenues.
It appointed Abdullah Abubakr as head of private banking in Saudi Arabia as of this month, according to his LinkedIn page.
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