The Italian bank Unicredit has recently opened a new corporate and investment banking branch in Abu Dhabi that is going to upgrade the local representative office that was previously established in 2001.
Based in the free zone of Abu Dhabi Global Market, Unicredit will initially focus on transaction banking and financing, mostly in euro and US dollar.
It will serve as a hub for the GCC and for the MENA countries and assist its local clients, that include multinationals, financial institutions and sovereign wealth funds.
It’s, indeed, a very interesting market for Unicredit, as the GCC hosts more than 1,000 European organizations that operate in the trading, manufacturing, construction and oil and gas sectors.
Furthermore, the GCC is also the base for important investment companies and a significative source for the foreign direct investment flow.
The opening of this new branch will, therefore, represent an important step towards the expansion of the international network of Unicredit, supporting the group’s clients in their process of internationalization.
Mara Di Marco
General Manager, UAEstablishment