Commercial Bank of Dubai Partners with Siemens Energy on AED 550 Million Credit Facility to Drive Growth
Commercial Bank of Dubai (CBD), a leading financial institution in the UAE, has partnered with Siemens Energy, a leader in energy technology, by providing an AED 550 million bilateral credit facility to Siemens Energy LLC in the UAE.
This facility reinforces CBD's commitment to supporting businesses with tailored financial solutions, enabling Siemens Energy LLC to execute its expanding pipeline of projects and drive future growth.
This transaction represents a strategic advancement for CBD, solidifying its footprint in the energy sector by partnering with a globally recognised leader. In addition, this facility highlights CBD's robust capabilities in structuring large-scale financial solutions, reinforcing its position as a preferred banking partner for multinational corporations and a key enabler of growth in the sector. 'CBD is pleased to extend this bilateral credit facility to Siemens Energy, a key player in the energy sector,'
said Dr. Bernd van Linder, CEO at Commercial Bank of Dubai. 'This partnership demonstrates our financial strength and ability to support leading global corporations in their growth ambitions while reinforcing our position as a trusted banking partner in the UAE.' 'Financial resilience and strategic flexibility are essential to delivering on our commitments and advancing the energy transition,'
said Robert McAnally, Head of Treasury and Corporate Finance at Siemens Energy. 'This facility enhances our ability to navigate a dynamic industry and support the evolving energy landscape, particularly in the Middle East - one of the world's fastest-growing energy markets.'
The facility aligns with CBD's strategic vision to enhance its market presence by providing tailored financial solutions to industry leaders. By facilitating Siemens Energy LLC's business expansion, the partnership reinforces CBD's role as a trusted financial partner while enabling Siemens Energy LLC to capitalise on new opportunities in the region.
The energy sector remains a critical pillar of economic growth in the UAE, and CBD's collaboration with Siemens Energy LLC reflects the Bank's commitment to supporting key industries that drive progress and innovation.
News Source: Ogilvy
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