Abu Dhabi - Mubasher: The UAE’s largest financial institution, First Abu Dhabi Bank (FAB), has inaugurated a new branch in Jeddah in Saudi Arabia as part of its expansion strategy in the kingdom.

The new facility follows the other two branches in Riyadh and Al Khobar that were launched earlier in 2019, according to a press release on Monday.

Top-tier officials from Saudi Arabia and the UAE attended the opening ceremony.

Moreover, Saudi Arabia enjoys a special status in FAB’s expansion plans, FAB said in the statement, noting that this enables the bank to contribute to different financial needs for local, regional, and global firms while empowering them to seize commercial and investments opportunities on regional and global scales.  

FAB noted that the bank looks forward to embracing promising opportunities across the kingdom and reinforcing its position as one the main stimulators for the development of the economic sector inside the UAE and the Middle East.