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3rd Party: 1 day ago
BBVA has received In-Principle Approval (IPA) from ADGM’s Financial Services Regulatory Authority (FSRA) to obtain a Category 4 (CAT4) license. This authorization will allow BBVA to expand its range of corporate and investment banking service activities and strengthen its position as a strategic partner for corporate and institutional clients in the region. Eduardo Ortiz Gross, Head of BBVA Corporate & Investment Banking (CIB) in the Middle East, has been appointed Senior Executive Officer for the Abu Dhabi branch, where he will lead the bank’s operations across the region.
BBVA has been present in Abu Dhabi through a Representative Office since 2013. With this new license, the bank, one of the most profitable large banks in the world by growth, efficiency and return on capital, will expand its wholesale banking services, offering financing, advisory, global markets and cross-border solutions to corporate and institutional clients across the region.
Javier Rodríguez Soler, Global Head Sustainability and Corporate & Investment Banking at BBVA, explains: “The Middle East is a strategic region for BBVA. Obtaining this licence marks an important step forward in our ambition to grow with our clients globally. The region’s economies are transforming at great speed, with sovereign wealth funds and other institutional players taking a leading role in the energy transition and sustainable investment. BBVA aims to be their long-term partner, providing cross-border expertise and innovative financial solutions that support their growth and decarbonisation strategies.”
Arvind Ramamurthy, Chief of Market Development Officer at ADGM, commented: “BBVA’s decision to deepen its presence in Abu Dhabi through ADGM underlines the growing importance of our jurisdiction as a gateway between the Middle East and global markets. As more leading international banks choose ADGM to serve sovereign investors and financial institutions, we continue to build a robust ecosystem for sustainable finance and cross-border capital flows. We are pleased to welcome BBVA, with its strong track record in advisory and financing for transformational projects, and look forward to seeing it support the region’s ambitious growth and transition agenda.”
The Middle East region represents a significant opportunity for BBVA to diversify its global footprint and strengthen its client base within BBVA Corporate & Investment Banking (BBVA CIB). Local economies are pursuing ambitious diversification plans and increasing their relevance in global markets. This environment offers significant potential for BBVA CIB to deepen relationships with sovereign wealth funds, institutional investors, and large corporates, all of which are key players in the global energy transition and infrastructure development.
BBVA CIB’s approach combines financial strength, deep sector expertise, and a strong focus on sustainability. The bank works closely with institutional clients such as asset managers, insurers, and financial sponsors, through specialised coverage teams that understand their specific needs and long-term objectives. This model enables BBVA to provide comprehensive, cross-border solutions across financing, markets, and advisory services.
In line with this strategy, BBVA is already active in the region and has recently taken part in transactions with key clients that reflect its growing commitment to the Middle East.
In recent years, cross-border business has become a strategic growth driver for BBVA CIB, representing more than 35 percent of revenues and growing over 30 percent year-on-year. The opening of BBVA ADGM branch, which is subject to final regulatory approval, will strengthen the bank’s ability to connect clients in the Middle East region with opportunities across BBVA’s international network, particularly in Europe, USA, Mexico or Turkey.
BBVA CIB continues to build on its global leadership in sustainable finance, helping clients transition towards a low-carbon economy through innovative structures and advisory expertise tailored to each sector’s transformation journey.
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