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BIC-BRED (Suisse) SA establishes Mideast presence in UAE’s DIFC

BIC-BRED (Suisse) SA establishes Mideast presence in UAE’s DIFC
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Dubai – Mubasher: Banque Internationale de Commerce - BRED (Suisse) SA (BIC-BRED (Suisse) SA has chosen Dubai International Financial Centre (DIFC) for its flagship regional office.

The Geneva-based Swiss bank will use the DIFC platform to bring customised expertise in commodity financing to the dynamic GCC region, with a focus on the UAE market, according to a press release on Monday.

CEO of BIC-BRED (Suisse) SA, Emmanuel Lemoigne, said: Dubai and the UAE have clearly become a preferred location for international financial institutions operating in commodity financing. Our strategy is oriented towards our clients and prospects based in the UAE and more widely in the region.

Lemoigne added: “Our presence in DIFC is consequently a logical response to these objectives. We are aiming to be a leader in the field of commodity trade finance to bring our expertise to Dubai.

With roots dating back to 1991, BIC-BRED (Suisse) SA received a full banking licence in 2015 to operate as a full subsidiary of BRED, Paris, a leading French commercial bank and shareholder of the BPCE Group. The BPCE Group is France's second-largest banking group and Europe's fourth-largest by equity size.