Rabobank affiliate company to open office in Dubai
The world’s only AAA-rated privately owned bank, Rabobank is set to have a presence in Dubai through its affiliate company - Bank Sarasin & Company.
<i>Gulf News</i>, citing unnamed sources, reported that Bank Sarasin, where Rabobank holds 28 per cent stake and the Dubai-based Alpen Capital Corporation are establishing an office in Dubai International Financial Centre (DIFC).
Rabobank with an asset base of about 440 billion euro (h2.150 billion) and ranked among the world’s top 15 banks in terms of tier 1 capital, does not have a presence in the region except an asset management outfit called Robeco, based in Bahrain.
The new company - Bank Sarasin-Alpen (Middle East), has been granted a licence by DFSA to be effective from this month, to market Bank Sarasin’s services.