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First Abu Dhabi Bank

Banking & Finance

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

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 […]

Sultan Al Jaber, the group CEO of Adnoc

Adnoc to raise $1.5bn with Islamic bonds

Abu Dhabi state oil giant Adnoc will raise $1.5 billion from a debut sale of Islamic bonds, or sukuk, according to a document seen by Reuters on Monday. Abu Dhabi National Oil Company, acting through its primary debt capital markets entity Adnoc Murban, is selling the sukuk at 60 basis points over US Treasuries, the […]

A man walks past an installation celebrating HSBC's 160th anniversary at its Hong Kong offices. The bank was the highest investment fee earner in the Mena region

HSBC dominates as Mena investment banking fees soar

Investment banking fee revenue in the Middle East and North Africa soared during the first quarter thanks to record debt arrangements, increased mergers and acquisitions and more initial public offerings. The industry’s regional earnings underline the growing importance of the Mena region to international banks, although the revenue from fees remains a fraction of those […]

Turkey Wealth Fund owns almost half of Turkish Airlines

UAE banks back Turkey Wealth Fund’s $1.2bn loan

State-backed Turkey Wealth Fund has secured its first loan without a treasury guarantee, backed by UAE-listed banks, a local newspaper reported. The sovereign fund raised €1.1 billion ($1.2 billion) two-year syndicated loan from 20 banks from 12 countries, Daily Sabah reported. The interest rate was set at Euro interbank offered rate, plus 2 percent annually for […]

Du’s shares are up 8.3% this year, outperforming Dubai’s index, which is down 0.6%

Abu Dhabi’s Mubadala considers selling stake in du

Abu Dhabi sovereign fund Mubadala may sell its stake in du, the UAE’s second-largest telecom operator by subscribers, which if added to the free float would boost the stock’s chances of being included in emerging market indexes. Admittance to the MSCI and FTSE emerging market benchmarks means that exchange-traded funds which track these measures must […]

First Abu Dhabi Bank will pay AED8.3 billion ($2.3 billion) in cash dividends for 2024

First Abu Dhabi Bank to pay highest-ever dividend

First Abu Dhabi Bank (FAB), the biggest lender by assets in the UAE, has announced the highest-ever cash dividend on higher annual revenues in 2024, the company said in a statement. The lender will pay AED8.3 billion ($2.3 billion) in cash dividends for 2024, at 75 fils per share, equivalent to 51 percent of group net […]