Gulf Banks Expand Hong Kong Presence to Boost China Ties
First Abu Dhabi Bank and Mashreq Bank are increasing their office space in Hong Kong as they target growing trade flows between China and the Middle East. Oman's Sohar International Bank is also establishing its first international office in the city to support clients across the Asian market.
First Abu Dhabi Bank PJSC and two other Gulf lenders are expanding in Hong Kong to capture trade flows with China. The move comes as Middle Eastern institutions target international growth amid domestic economic uncertainty and regional geopolitical shifts. Tensions involving the United States, Israel, and Iran have disrupted oil supplies, prompting a strategic pivot toward Asia.
First Abu Dhabi Bank, the largest lender in the United Arab Emirates, plans to double its office footprint in Hong Kong. Two people familiar with the matter said the bank is targeting better connectivity with Chinese markets.
