Built on strong foundations

FIRST ABU DHABI (FAB) came into being after the merger of First Gulf Bank and National Bank of Abu Dhabi, creating the UAE’s largest financial institution with approximately Dh642.25 billion worth of assets. It is also the second-largest bank in the Middle East and North Africa region.

The merger brought together two successful Abu Dhabi-listed banks to create a new, well-balanced bank with the financial strength, expertise and global network to fuel growth in the UAE economy and drive the country’s international business relationship.

“As we continue to build strong foundations to support the longterm sustainable growth of our franchise, we are on track to meet our targets for the current year and our strong capital buffers provide us with ample room to deliver top returns for our shareholders,” group CEO Abdulhamid Saeed said.

FAB posted a net profit of Dh2.6 billion of the third quarter of 2017 and a nine-month profit of Dh8.09 billion. It currently operates 115 branches and 625 ATMs/CDMs across all seven emirates. Globally, it has presence in 19 countries (excluding the UAE). FAB boasts the strongest combined credit ratings of any bank in Mena at Aa3/AA-/ AA-1. Listed on Abu Dhabi Securities Exchange, it enjoyed 34.9 per cent weightage on the ADSMI and four per cent on Bloomberg GCC 200 financial index. It has won a number of awards and was also rated the safest bank in the UAE and Middle East.