Abu Dhabi scours for global banking deal armed with $1 trillion americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Over the past year, the oil-rich emirate of Abu Dhabi has explored a string of ambitious acquisitions in the international banking sector in an attempt to become a global financial powerhouse. None have panned out so far. Most Read from BloombergThese Are World’s Most Expensive Cities for High-Class LivingNoises Detected in Search for Titanic Sub as Oxygen DwindlesHedging Failure Exposes Private Equity to Interest-Rate SurgeWhat We Know About the Missing Titanic SubmersibleTitanic
The expansion is being driven by the ambition of the ruling Al Nahyan family to win more global heft for the emirate, as well as to find new avenues for its banking sector to grow.