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Barclays gets Saudi investment banking licence as Middle East expansion continues
(Sharecast News) - Barclays has announced it is expanding its investment banking offering into the Kingdom of Saudi Arabia after receiving a provision Capital Market Authority (CMA) licence. The move, which is part of a wider strategy to strengthen its presence in the Middle East, will see the UK bank open an office in Riyadh in 2026.
Barclays called the provisional CMA licence a "significant milestone" which underscores its commitment to the Middle East region.
"Saudi Arabia is central to our Middle East growth strategy and we are very excited to support the Kingdom's growth ambitions under its Vision 2030," said chief executive C.S. Venkatakrishnan.
"As a global bank with strong historical connections in the region, we are well-positioned to help clients access capital, transform and grow in this dynamic market."
Earlier in 2025, Barclays received a regional headquarters licence as it builds its presence in the Gulf Cooperation Council, where it already operates in the UAE and Qatar.
Barclays' share price was up 1.9% at 395.8p by 1446 GMT.
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