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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

UAE bank ADCB signed up 210,000 new customers in Q3, with 84% joining via digital channels

UAE bank lending rises but profits hit by impairment charges

The aggregate net income of UAE banks dropped 5.5 percent in the third quarter of this year, as a jump in impairment charges dented profitability. Among the top 10 lenders in the UAE, aggregate income fell to AED20.3 billion ($5.5 billion) in Q3 2024, according to a report by professional services firm Alvarez & Marsal. […]

Azerbaijan's Absheron-Khizi wind farm is expected to provide 300,000 households with power and should start in the first half of 2026

Acwa Power secures $238m for Azerbaijan wind farm

Saudi renewable energy major Acwa Power has secured $238 million in funding to support a wind energy project in Azerbaijan. The funding for the Absheron-Khizi 240-megawatt (MW) wind farm comes from the European Bank for Reconstruction and Development (EBRD) and the Opec Fund for International Development. In December 2023, the company obtained a Shariah-compliant equity bridge […]

Analysts are expecting 'pockets of margin pressure, particularly in Saudi Arabia', but higher Q3 revenues for most Gulf banks

Analysts expect ‘mixed’ picture from Gulf banks’ Q3 results

The Gulf’s largest banks are likely to report mixed earnings for the third quarter, analysts say, as pressure on margins lessens the benefit of lending growth. Qatar National Bank and Dubai’s Emirates NBD – the Middle East and Africa’s largest and fifth largest banks by assets – have already published Q3 results. QNB’s profit rose […]