The local bank will target wealth individuals in the region.

Abu Dhabi Commercial Bank (ADCB) has opened a private banking centre in Abu Dhabi Global Market (ADGM), the financial centre, to serve high net worth clients in the region.

ADCB has said it is the first local bank to obtain a licence from ADGM to offer asset management services to wealthy clients through ADCB Private, launched in 2016.

“The opening of our flagship private banking centre in Abu Dhabi Global Market comes with the ambition of maintaining and creating new relations with our clients who always look for top class support and growth in services,” Mark Peters, head of private clients and wealth management at ADCB, said.