#FAB
The UAE’s GDP is projected to rise from 4.5 per cent to 5.6 per cent, outpacing the International Monetary Fund’s global growth forecast of 3.2 per cent
FAB’s capital and liquidity positions remained strong, with a common equity tier 1 (CET1) ratio of 13.7 per cent and a liquidity coverage ratio (LCR) of 142 per cent
The bank’s total assets surged to Dhs1.2tn, reflecting a 5 per cent growth over last year
The bank’s profit before tax grew by 15 per cent year-on-year to Dhs10bn
FAB has held early exploratory talks with owners of several Turkish banks
The order book for First Abu Dhabi Bank’s sukuk, which was 1.9 times oversubscribed, represented leading investors, including international fund managers, banks and supranationals
The UAE banks invested in various projects in renewable energy, waste-to-energy, and green technology in 2022
The bank will offer competitive financing solutions to support the adoption of advanced technology in the industrial sector
The banking group’s operating income jumped 51 per cent YoY to reach Dhs6.7bn compared to Dhs4.5bn in the first quarter of 2022
The sector is expected to maintain a stable outlook in 2023 driven by growing demand for digital services and industry competitiveness
The bank is committed to developing financial solutions that help businesses scale up operations while achieving their ESG objectives
More than half of FAB’s bond issuances in 2022 were in a ‘green’ format, with the bank aiming to further grow its range of sustainable offerings
First Abu Dhabi Bank has structured green financing for the development of renewable energy projects, the construction of energy efficient buildings and infrastructure development for sustainable water management
The bank’s total income was Dhs12.5bn, up 31 per cent YoY, including a Dhs3.1bn net gain on the sale of a majority stake in Magnati
Brand Finance named Middle East CEOs Dr. Sultan Ahmed Al Jaber, Hana Al Rostamani and Olayan Mohammed Al Wetaid in its Brand Guardianship Index
Wio will offer customers in the UAE a fully digital banking choice with tailored products and services to meet their lifestyles and needs
Bin Tarraf, who served as chief operations officer at Dubai-based Emirates Islamic Bank, will be partially replacing Fadel Al Ali
The programme is run by the Abu Dhabi Housing Authority
ADNOC is looking to sell a minority stake in its drilling unit in a deal that could value the business at up to $10bn