trending Market Intelligence /marketintelligence/en/news-insights/trending/hwn9ffnldsbyt1xxb85baw2 content esgSubNav
In This List

ABN Amro to shut down Dubai ops due to limited scale

Blog

Commercial Banking: June 22nd Edition

Blog

Commercial Banking Newsletter June Edition - 2022

Podcast

Street Talk | Episode 96: Considering recession risks, prospects that the Fed achieves a 'soft landing'

Blog

Insight Weekly: US recession outlook; mortgage activity slowdown; climate disclosure push


ABN Amro to shut down Dubai ops due to limited scale

ABN Amro Group NV said in its first-quarter results that it will wind down its operations in Dubai or transfer them to other locations, citing limited scale.

The Dutch lender will transfer some existing clients in its international commodities business to Amsterdam, The National reported May 14. A spokesman told the newspaper that the bank was planning to shutter its operations in Dubai over the course of 2018, pending regulatory approval, as the amount of business in the emirate did not justify having a branch there.

In 2017, the bank sold its private banking operations in the Middle East and Asia to LGT Gruppe Stiftung for an undisclosed amount.