emirates7 - BBVA has received In-Principle Approval (IPA) from ADGM’s Financial Services Regulatory Authority (FSRA) to obtain a Category 4 (CAT4) license. This authorisation 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.

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, explained: “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.