Credit Suisse opens branch in Riyadh, expands Saudi operations
Credit Suisse said on Monday it had opened a branch in Riyadh to offer wealthy Saudi Arabian clients a greater range of financial services, after
obtaining a local banking license in 2019.
For all the latest headlines follow our Google News channel online or via the app
The bank, which has been offering investment banking, asset management and other services in Saudi Arabia since 2005, will now provide services such as lending, foreign exchange and treasury products, account management and deposits, it said in a statement.
Western financial institutions have been seeking opportunities in Saudi Arabia since the government unveiled plans to privatize state assets and introduced reforms to attract foreign capital under its Vision 2030 program to reduce the economy’s dependence on oil.
Also Read
-
Saudi stocks to rally on MSCI inclusion, says Credit Suisse official
Beginning June this year, Saudi Arabian stocks will be included in the MSCI Emerging Markets Index. “The MSCI first phase is widely expected ... Financial Markets -
CEO confirms Credit Suisse seeking Saudi banking license
Credit Suisse Chief Executive Tidjane Thiam personally travelled to Saudi Arabia to apply for a banking license, he said on Tuesday, confirming ... Opinion -
HSBC, Credit Suisse to advise on Kuwait’s KFH, Bahrain’s AUB talks
HSBC and Credit Suisse have been selected to advise on a possible merger between Ahli United Bank (AUB) and Kuwait Finance House (KFH), AUB said on ... Economy -
Qatar Credit Suisse to launch asset management venture
A unit of the Qatar Investment Authority (QIA) has teamed up with Credit Suisse to launch an asset management joint venture, Bloomberg reported on ... Business
