Abu dhabi: 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.
According to Emirates News Agency, BBVA has been present in Abu Dhabi through a Representative Office since 2013. With this new license, the bank, known for its 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 RodrÂguez Soler, Global Head of Sustainability and Corporate and Investment Banking at BBVA, explained that the Middle East is a strategic region for BBVA. He noted that obtaining this licence marks an important step in their ambition to grow with clients globally. The region’s economies are transforming, with sovereign wealth funds and other institutional players playing a 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 that BBVA’s decision to deepen its presence in Abu Dhabi through ADGM highlights the growing importance of their jurisdiction as a gateway between the Middle East and global markets.