#First Abu Dhabi Bank

FAB supply chain finance in KSA

UAE’s FAB launches supply chain finance in Saudi Arabia

The programme allows companies to monetise their receivables at competitive rates and get instant payments, without needing to borrow funds

UAE’s First Abu Dhabi Bank branch

First Abu Dhabi Bank’s Q1 2023 net profit up 70%

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

ADNOC Distribution fuel pumps

Shareholders of ADNOC Distribution approve $700m dividend

The company’s full-year net profit surged by 22 per cent year-on-year to Dhs2.74bn while its revenues rose by 54 per cent to Dhs32bn

First Abu Dhabi Bank reports highest ever net profit in 2022

First Abu Dhabi Bank reports highest ever net profit in 2022

The bank’s total income stood at Dhs23.9bn, increasing 10 per cent year-on-year, compared to Dhs21.7bn recorded in 2021


Standard Chartered faces fresh questions after report of First Abu Dhabi Bank takeover bid

While FAB said it’s no longer evaluating a possible offer, the news sent shares in the London-listed lender higher as investors weighed the prospects of any deal


First Abu Dhabi Bank, Magnati, PayRow Net to develop digital payment platform

The streamlining and automating of revenue collection will help government entities to better plan and forecast as well as focus on their core business and services

UAE President wipes out over Dhs536.2m debt for Emiratis

The non-performing debt relief fund has announced that 17 banks and financial institutions have waived the obligations

Rula Al Qadi is the managing director and head of group funding at First Abu Dhabi Bank

Why green bonds are an effective weapon in the fight against climate change

The provision of green bonds and green private placements products are a vital aspect of First Abu Dhabi Bank’s sustainability strategy and the projects it’s actively involved in

FTA to enable digital payments through Magnati

UAE Federal Tax Authority to discontinue eDirham system for tax payment

The eDirham system will be replaced with Magnati, the smart payment option from First Abu Dhabi Bank

Achieving net zero will require the full might of the banking sector

Banks are already facilitating private sector engagement in net zero, and this will deepen in the coming years

VIsa launches She's Next with FAB and DBC

Visa, FAB and DBWC launch ‘She’s Next’ programme for female entrepreneurs in UAE

She’s Next will deliver significant networking opportunities in partnership with the Dubai Business Women Council for female entrepreneurs in Dubai

AJman DoF FAB Photo

Ajman’s DoF, FAB and Magnati to offer digital payments through AjmanPay app

Ajman Pay will accelerate the emirate’s shift toward a cashless economy and ensure that government entities benefit from digital payment solutions

ADDED Abu-Dhabi_

Abu Dhabi’s ADDED introduces easy payment plan for business owners

The agreement signed between ADDED and FAB, ADCB, CBD and ADIB will help credit card holders pay the charges for ADDED’s services in installments


Q1 2022: First Abu Dhabi Bank reports highest ever quarterly net profit

The lender’s quarterly group net profit, equalling Dhs5.1bn, rose 107 per cent year-on-year from Dhs2.5bn recorded in Q1 2021

Digital wallet

Careem Pay launches peer-to-peer transfer facility and digital wallet in the UAE

It will soon issue Careem cards that can be used at ATMs and merchants, and will also introduce international remittance solutions

Citi, HSBC set to share up to $97m in fees from DEWA IPO

DEWA said in a statement that the selling commissions would amount to Dhs213.7m

UAE’s FAB partners with IBM to accelerate digital transformation

IBM’s team of experts will work with FAB to modernise existing applications and enhance the digital footprint of FAB’s customers

First Abu Dhabi Bank

UAE lender First Abu Dhabi Bank pulls bid for Egypt’s EFG-Hermes

FAB had offered to buy a majority stake in EFG-Hermes in February

First Abu Dhabi Bank to open representative office in Iraq

The UAE is one of Iraq’s most important trading partners, with the value of exported goods totalling over $13.11bn in 2020

UAE’s First Abu Dhabi Bank and ADCB deny report of potential merger

The banks issued separate filings to the Abu Dhabi Securities Exchange (ADX) denying the report

Brookfield to buy 60% of First Abu Dhabi Bank’s payment arm

The bank’s payments business was valued at $1.15bn

Etihad Rail

Etihad Rail signs Dhs1.99bn financing agreement for passenger services with First Abu Dhabi Bank

The passenger service will connect 11 cities and locations in the UAE and is expected to carry over 36.5 million passengers annually by 2030

The way forward for digital banking in the UAE

Here’s why digital banking will continue to grow rapidly within the country

First Abu Dhabi Bank makes offer to acquire majority stake in EFG Hermes Holding

The potential acquisition would be paid for in cash

First Abu Dhabi Bank, Mastercard introduce virtual corporate debit card

The virtual cards can be created for single- or multiple-use

First Abu Dhabi Bank, Etihad and Visa to launch sustainability-linked credit card

The credit card will reward members for making sustainable choices, while providing options to offset emissions for their spending

First Abu Dhabi Bank reports 19% rise in group net profit for 2021

Its total assets exceeded Dhs 1 trillion, marking a 9 per cent year-on-year increase

Masdar Green REIT signs green financing commitment with First Abu Dhabi Bank

FAB will act as sole mandated lead arranger and bookrunner, green loan coordinator and account bank for this transaction

First Abu Dhabi Bank appoints Suhail Bin Tarraf as chief operating officer

Bin Tarraf, who served as chief operations officer at Dubai-based Emirates Islamic Bank, will be partially replacing Fadel Al Ali

Etisalat’s blockchain arm crosses Dhs10bn transactions

Launched commercially in April 2021, the platform was co-created by Etisalat Digital along with seven UAE banks