Ramy Sameh

Abu Dhabi – Mubasher: Investcorp Bank intends to increase its managed assets to $100 billion, said the CEO Mohammed Bin Mahfoodh Al Ardhi on Wednesday.

The CEO did not set a timeframe for hitting this figure, Al Ardhi told Mubasher on the sidelines of a special event organized by the bank.

“We doubled the bank’s assets to $23 billion after acquiring 3i Debt Management, thus nearing to reach our $25 billion target, which we expect to achieve by 2017”, said the CEO, clarifying that this move will be followed by another scheme for the $100 billion asset portfolio.

The management successfully strengthened its stakeholders’ base in the past three months, the CEO added on the background of Mubadala Development’s acquisition of a 20% interest in the company.

It further aspires to expand into new markets all over the world and diversify the bank’s products and investor base.