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Middle East Bank Gets Clearance To Open Singapore Office - Report

Tom Burroughes

3 November 2014

Abu Dhabi Commercial Bank is to open a representative office in Singapore this year, the bank is reported to have said.

The United Arab Emirates lender has won approval for the office from the Monetary Authority of Singapore, it is quoted saying by Reuters. ADCB launched a representative office in London five months ago, and has two branches in India.

This publication sought to get a comment from the bank but it was not available for comment at the time of going to press. The MAS website made no reference to the bank as far as this publication could ascertain.

The news service report said several UAE banks are also expanding in Asia or looking to do so, such as National Bank of Abu Dhabi, First Gulf Bank and Abu Dhabi Islamic Bank.