Espírito Santo Financial Group S.A. (ESFG), the Portuguese banking group, today announced that its subsidiary, ES Bankers (Dubai) Limited (ESBD), has been granted a full banking licence by the Dubai Financial Services Authority (DFSA), to operate in the Dubai International Finance Centre (DIFC).
ESFG is an integrated financial services group based in Luxembourg, with its banking and insurance operations located primarily in Portugal. ESFG located their Middle East Headquarter at the DIFC as they were attracted by its sophisticated banking environment and its proximity to other Gulf countries, as well as Asia. ESBD will provide a diversified range of financial and investment banking services to its clients in the Middle East. They expect to capitalise on opportunities not only for private banking and asset management but also for trade finance.
"The MENA and subcontinent regions today have a prominent and rapidly growing role in the world economy. As well as catering for our international clients who seek our assistance when entering the region, we will provide financial solutions to Middle Eastern corporations and governments" said Mr. Ricardo Espírito Santo Salgado, Chairman of ESFG and also Chairman of the new Bank.
The office is located at Gate Village Building 1, in the DIFC, and it is open for business. The CEO is Mr. Shekhar Chatterjee.
Nasser Al Shaali, Chief Executive Officer of the DIFC Authority said, "As a leading European financial services group, the opening of ESBD’s DIFC office will bridge the gap between the markets in the East and the West, as well as providing a platform for their growing presence across the globe. We are delighted that this banking group has joined the DIFC. At the DIFC, ESBD can truly benefit from an unrivalled environment which is transparent, efficient and of the highest integrity."
