Commercial Bank of Dubai (CBD) said it has been associated with Siemens Energy, a leader in energy technology, by providing a bilateral credit line AED550 million to the company’s EAU unit, Siemens Energy LLC.
The installation will allow Siemens Energy LLC to execute its project expanding and boost future growth.
Dr. Bernd Van Linder, CEO of Commercial Bank of Dubai, said the bank is pleased to extend this bilateral credit line to Siemens Energy, a key player in the energy sector.
“This association demonstrates our financial strength and ability to support the main global corporations in their growth ambitions while reinforcing our position as a confidence banking partner in the EAU,” he said.
The transaction represents a strategic advance for the CBD, solidifying its footprint in the energy sector by associating with a globally collected leader.
Robert Mcanalle, Treasury Chief and Corporate Finance of Siemens Energy, said that financial resilience and strategic flexibility are essential to comply with the confirmations of the company and advance the energy transition.
“This installation improves our ability to navigate a dynamic industry and support the evolving energy landscape, particularly in the Middle East, one of the fastest growing energy markets in the world,” he said.
The installation is aligned with the strategic vision of CBD to improve its presence in the market by providing personalized financial solutions to industry leaders.
The energy sector remains a critical pillar of economic growth in the EAU, and the collaboration of CBD with Siemens Energy LLC reflects the bank’s commitment to support the key industries that drive progress and innovation, he said.
