Barclays Considers Re-Entering Saudi Arabia a Decade After Exit

Barclays Plc is considering re-entering Saudi Arabia as it looks to capitalize on the kingdom’s growing need to access capital markets around the world.

The lender plans to grow its team across the Middle East region, including in Dubai and Abu Dhabi in addition to Riyadh, Chief Executive Officer C.S. Venkatakrishnan said in an interview on the sidelines of the kingdom’s Future Investment Initiative.

C.S. Venkatakrishnan

Photographer: Hollie Adams/Bloomberg

The bank was already among lenders that helped Saudi Arabia’s sovereign wealth fund sell a two-tranche sterling-denominated bond to diversify its investor base earlier this year. The Public Investment Fund ultimately raised about £650 ...