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First Abu Dhabi Bank

Banking and Finance

Latest First Abu Dhabi Bank DevelopmentsAI Insights

First Abu Dhabi Bank announced the highest cash dividend in its history due to higher annual revenues in 2024. The company paid AED8.3 billion in cash dividends for the year at 75 fils per share, representing 51 percent of group net profit. Its net profit rose 7 percent year on year to AED17 billion, with revenue increasing 15 percent to AED31.6 billion1.

Within the MENA investment banking sector, First Abu Dhabi Bank was one of the few MENA-based banks to enter the top 10 for fee generation in the first quarter of 20253.

The company acted as one of the lead bookrunners for Turkey Wealth Fund in a syndicated loan arrangement, a deal that marked a significant transaction for the UAE-listed banks4.

First Abu Dhabi Bank backed a new UAE-based stablecoin, regulated by the UAE Central Bank, which signalled an expansion of its financial technology ventures5.

The company is also noted as one of the top listed companies in the UAE, featuring in the MSCI emerging index. This exposure is part of the broader investment landscape that includes influential stakeholders such as Mubadala2.

First Abu Dhabi Bank Overview

First Abu Dhabi Bank (FAB) is the largest bank by assets and the largest lender in the United Arab Emirates, formed following a merger between First Gulf Bank and the National Bank of Abu Dhabi in 2017.

FAB is based in Khalifa Business Park in Abu Dhabi but operates in 20 overseas markets including across the Middle East, Europe, Brazil, India, South East Asia and the US.

Products and services include personal, private, corporate and investment banking.

In 2019 First Abu Dhabi Bank began international expansion with the start of operations in Saudi Arabia. International growth since then has been through a combination of organic expansion and mergers and acquisitions.

For example in 2022 it completed the merger of its Egyptian unit and Bank Audi Egypt, resulting in the creation of Egypt’s newest banking brand, FABMISR.

As well as diversifying its international business the bank has been focused on expanding its business lines, products, funding sources and income streams.

The Mubadala Investment Company is FAB’s largest shareholder, owning over a third of the bank.

First Abu Dhabi Bank News

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FAB shareholder seeks to raise $480m from secondary offering

A shareholder of First Abu Dhabi Bank (FAB), the UAE’s biggest bank by assets, is offering around $480 million worth of shares via a secondary share sale, the bookrunner for the deal said on Friday. The selling shareholder, whose name was not disclosed, is offering around 113 million shares at a price of AED15.5 ($4.22) […]

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Hana Al Rostamani, group CEO of First Abu Dhabi Bank , which saw Q1 profits rise by 23%

First Abu Dhabi Q1 profit rises by nearly a quarter

First Abu Dhabi Bank (FAB) reported an increase in profits in the first quarter of this year, fuelled by higher revenue from its retail, wholesale and investment banking segments. FAB’s net profit rose 23 percent to AED5.1 billion ($1.4 billion) in the January to March period, while revenue saw an 11 percent growth to AED8.8 […]