First Abu Dhabi Bank (FAB) () is the largest

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

in the

United Arab Emirates The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab E ...

. It was formed following a

merger Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...

between First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD). FAB offers financial solutions, products and services through its Corporate and Investment Banking and Personal Banking franchises. Headquartered in Abu Dhabi in Khalifa Business Park, the bank has a presence in five continents: Asia Pacific (APAC), Europe, Americas, Middle East and Africa (EAMEA).

History

First Abu Dhabi Bank was formed as a result of a merger between FGB and NBAD. On 3 July 2016, the two UAE banks announced that their boards of directors had voted unanimously on the recommendation to shareholders for the merger of the two entities. The transaction was approved by the respective shareholders on 7 December 2016. The transaction was executed through a share swap, with FGB shareholders receiving 1.254 NBAD shares for each FGB share they held. The merger led to the creation of the UAE’s largest bank, First Abu Dhabi Bank (FAB) in April 2017. The launch of FAB’s new brand identity combined the ‘Abu Dhabi’ and ‘First’ identities from NBAD and FGB, the First Abu Dhabi Bank (FAB) name reflects the two banks’ roots in the region. The bank adopted the acronym F.A.B in its logo, which also features the “Awwal” (First) brand mark, enlarged to represent growth and leadership. In 2019, the bank began international expansion with the start of operations in

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area of about , making it the List of Asian countries ...

. In 2019, Qatar filed a lawsuit against three banks that were involved in the 2017 plans to devalue the Qatari riyal. Suit against two banks, First Abu Dhabi Bank and Saudi Arabia’s Samba Bank were filed in New York, while the lawsuit against the private bank, Banque Havilland, was filed in London. In 2023, the Financial Conduct Authority fined Banque Havilland £10 million for its involvement in the plans, which were also forwarded to an Abu Dhabi sovereign wealth fund official. The Bank's net profit declined from AED 12.5 billion in 2019 to AED 10.6 billion in 2020. In January 2021, Hana Al Rostamani has been appointed as group chief executive officer. Company said its net profits were US$3.4 billion at the end of 2021, 19 percent up from than previous year.

Recognitions

FAB has been ranked by Global Finance as the safest bank in the UAE and the Middle East and the best bank in the UAE. The Banker’s Top 1000 World Banks 2020 list, measured by Tier 1 capital, ranked FAB as number one in the UAE, second in the Middle East and 85th across the globe – in addition to ranking the bank #109 by assets in the same list. FAB was also ranked first in the UAE, 4th in the Arab world and 303rd globally in Forbes annual ranking of the world’s 2000 largest public companies.

Financial performance

For the year 2022, First Abu Dhabi Bank has posted a

net profit In business and Accountancy, accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and Amortization (a ...

of AED 13.4 billion.

References

Banks established in 2017 Emirati companies established in 2017 Banks of the United Arab Emirates Companies based in Abu Dhabi {{cite web , title=First Abu Dhabi Bank Reports Record Profits , url=https://checkfabbalance.com/ , website=CheckFabBalance , date=2024 , access-date=31 January 2025