#First Abu Dhabi Bank

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

Shanghai

UAE’s First Abu Dhabi Bank to open first mainland China branch

FAB will offer both RMB and foreign currency business onshore in China through its new branch in Shanghai

First Abu Dhabi Bank

First Abu Dhabi Bank approves Dhs8.08bn cash dividends for 2020

The bank recorded a a full year 2020 net profit of Dhs10.6bn

First Abu Dhabi Bank appoints new International Banking head

Clarence Singam-Zhou will begin his new role from March 1, 2021

Abu Dhabi lender FAB names Hana Al Rostamani as first female CEO

Al Rostamani will takes over from Andre Sayegh

First Abu Dhabi Bank acquires 100% of Bank Audi Egypt’s share capital

The proceeds will help strengthen Bank Audi group’s capitalisation and financial resilience

FIrst-abu-dhabi-bank-atms

UAE’s First Abu Dhabi Bank issues five-year $500m sukuk

It attracted a total orderbook of around $1.5bn which represents a three times over-subscription rate

UAE lender FAB opens Jakarta office to facilitate regional trade

FAB Indonesia will serve as a bridge to facilitate trade and investment flows between the UAE, the wider GCC region, Egypt and Asia

Banks erase debt worth Dhs869.85m of 1,607 Emiratis

The move was implemented as per the directives of the UAE President Sheikh Khalifa bin Zayed Al Nahyan

Revealed: Winners at the 2020 Gulf Business Awards

The awards acknowledged champions from across the region’s business spectrum

First Abu Dhabi Bank

FAB reports 19.3% dip in net profit for Q3 2020

Third quarter net profit rose 4 per cent sequentially

Abu Dhabi investment firm to form digital bank with $545m capital

First Abu Dhabi Bank will own 10 per cent of the digital bank

Gulf International Bank to hire advisers for Dollar bond

The bonds are likely to be offered as soon as this week

First Abu Dhabi Bank

First Abu Dhabi Bank to start talks with Israeli lenders

The decision follows the signing of a memorandum of understanding between the UAE central bank and the Israeli Prime Minister’s Office

Top UAE banks signal slow recovery for Q3 2020 – report

Second-quarter net profit for UAE-based top banks jumps 21 per cent

First Abu Dhabi Bank

First Abu Dhabi Bank joins Mideast lenders in raising provisions

First Abu Dhabi Bank increased impairments to Dhs1.06bn ($289m) from Dhs467m a year ago

Revealed: Top 10 companies in the Middle East in 2020

In this year’s Forbes list of the Middle East’s Top 100 Companies 2020, Saudi Arabia led the pack with 33 entries

Abu Dhabi Sheikh in talks to buy stake in Amanat

Amanat said earlier this year it expects the region’s health industry to expand at a compound annual growth rate of 6.7 per cent by 2022

First Abu Dhabi Bank

First Abu Dhabi Bank reports 22% decrease in year-on-year Q1 2020 net profit

Meanwhile, the value of total assets of the UAE’s largest bank rose 14 per cent to Dhs835bn

UAE’s First Abu Dhabi Bank sells 2.5 million shares held by NMC’s BR Shetty

Almost 4.8 million shares which belonged to Shetty were held in a nominee account in Falcon Private Bank which were then transferred to First Abu Dhabi Bank on February 5