BBVA has received In-Principle Approval IPA from the Financial Services Regulatory Authority FSRA of the Abu Dhabi Global Market ADGM to obtain a Category 4 CAT4 license. The authorization will allow the bank to broaden its corporate and investment banking services and strengthen its position as a strategic partner for corporate and institutional clients across the region. Eduardo Ortiz Gross has been appointed Senior Executive Officer for the Abu Dhabi branch, overseeing BBVA's operations throughout the Middle East.
BBVA has maintained a presence in Abu Dhabi through a Representative Office since 2013. With the new license, the bank will expand its wholesale banking services, providing financing, advisory, global markets, and cross-border solutions to corporate and institutional clients. This expansion aligns with the bank's ambition to grow with clients globally, particularly in the context of the Middle East's fast-evolving economies, which are increasingly focused on the energy transition and sustainable investment.
The ADGM jurisdiction has positioned itself as a gateway between the Middle East and global financial markets. BBVA's deeper presence in Abu Dhabi highlights the growing importance of the region for international banks and strengthens ADGM's ecosystem for sustainable finance and cross-border capital flows. The bank's entry is expected to support transformational projects and regional growth initiatives.
