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First Abu Dhabi Bank

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First Abu Dhabi Bank
Native name
بنك أبوظبي الأول
Company type
Public bank
ADX: FAB
ISINAEN000101016
IndustryBanking
FoundedApril 2017; 9 years ago (2017-04)
HeadquartersAbu Dhabi, United Arab Emirates
Number of locations
140 (2025)[1]
Key people
Hana Al Rostamani
Group CEO
Sheikh Tahnoun bin Zayed Al Nahyan
(Chairman)
RevenueAED 21.11 billion (US$5.75 billion) (2025)[1]
AED 36.68 billion (US$9.99 billion) (2025)[1]
Total assetsAED 1.4 trillion (US$381.47 billion) (2025)[1]
Owner
[2]
Number of employees
7 500 (2025)[1]
Websitewww.bankfab.com

First Abu Dhabi Bank (FAB) (Arabic: بنك أبوظبي الأول) is the largest bank in the United Arab Emirates. It was formed following a merger between First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD).[3]

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).[4]

History

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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.[5] 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.[6] The merger led to the creation of the UAE’s largest bank, First Abu Dhabi Bank (FAB) in April 2017.[7]

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.[8]

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.[9][10]

In January 2021, Hana Al Rostamani has been appointed as group chief executive officer.[11] Company said its net profits were US$3.4 billion at the end of 2021, 19 percent up from than previous year.[12]

In April 2025, FAB, Abu Dhabi sovereign wealth fund ADQ, and International Holding Company (IHC) announced plans to launch a Dirham-backed stablecoin.[13][14]

In August 2025, it was announced that FAB had moved into a new branch location in London, specifically 20 Berkeley Square in Mayfair. FAB was the first Gulf-based bank to operate in the United Kingdom in 1977, back when it was National Bank of Abu Dhabi.[15]

In December 2025, FAB signed a Memorandum of Understanding (MoU) with European asset management company Amundi to boost its investment management offerings across the Gulf Cooperation Council (GCC).[16]

In January 2026, FAB announced a strategic partnership with global asset management firm T. Rowe Price to enhance investments offering across the GCC. T. Rowe Price would act as an investment partner and provide investment solutions across equity, fixed income, alternatives, and multi-asset strategies.[17]

International operations

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Recognitions

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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.[19]

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.[20]

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.[21]

FAB was ranked third on Forbes Middle East's 30 Most Valuable Banks 2025 list.[22] It also ranked seventh of Forbes Middle East's Top 100 Listed Companies 2025 list.[23]

References

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  1. ^ a b c d e "2025 Annual Report -FAB" (PDF).
  2. ^ Bank, First Abu Dhabi. "Share Profile | First Abu Dhabi Bank (FAB) – UAE". Share Profile | First Abu Dhabi Bank (FAB) – UAE. Retrieved 5 February 2021.
  3. ^ Kerr, Simeon (3 July 2016). "Abu Dhabi banks agree $29bn merger to create national champion". Financial Times. Retrieved 3 July 2016.
  4. ^ "First Abu Dhabi Bank (FAB)". relbanks.com.
  5. ^ French, David (3 July 2016). "Abu Dhabi merger to create $175 billion banking heavyweight". Reuters.
  6. ^ Diaa, Sarah (7 December 2016). "Shareholders of NBAD, FGB approve merger". Gulf News.
  7. ^ "Revealed: Top 10 banks in the UAE". gulfbusiness.com. 22 September 2019. Retrieved 5 February 2021.
  8. ^ "First Abu Dhabi Bank reveals new brand identity". thenational.ae. May 2017. Retrieved 1 May 2019.
  9. ^ Szalay, Eva (8 April 2019). "Qatar sues trio of banks over plan to 'attack' financial markets". The Financial Times. Retrieved 22 May 2023.
  10. ^ Browning, Jonathan (5 May 2023). "UK Fines and Bans Banque Havilland's Edmund Rowland Over Qatari Plot". Bloomberg. Retrieved 22 May 2023.
  11. ^ Bloomberg (27 January 2021). "Abu Dhabi lender FAB names Hana Al Rostamani as first female CEO". Gulf Business. Retrieved 27 January 2021.
  12. ^ "UPDATE 2-UAE's biggest lender FAB posts record profit but shares fall". Reuters. 27 January 2022. Retrieved 28 January 2022.
  13. ^ Maccioni, Federico (28 April 2025). "Abu Dhabi doubles down on crypto as wealth fund, FAB, IHC join forces for new stablecoin". Reuters. Retrieved 27 April 2026.
  14. ^ Nagraj, Aarti. "Abu Dhabi's IHC, ADQ and FAB to launch dirham-backed stablecoin". The National. Retrieved 27 April 2026.
  15. ^ Nair, Manoj (1 August 2025). "Abu Dhabi's FAB moves to new branch location in London - after nearly 50 years". Gulf News. Retrieved 16 April 2026.
  16. ^ Maddela, Vidyasagar (9 December 2025). "FAB signs MoU with Amundi to boost investment offerings in GCC". Private Banker International. Retrieved 15 April 2026.
  17. ^ "First Abu Dhabi Bank and T. Rowe Price Enter into a Strategic Partnership to Enhance Investment Offering across the GCC". Investing News Network. 12 January 2026. Retrieved 16 April 2026.
  18. ^ "First Abu Dhabi Bank Extends Collaboration with Temenos to Modernize Banking in Saudi Arabia". GlobeNewswire. 5 May 2026.
  19. ^ "World's Best Banks 2020: Middle East". gfmag.com. 13 May 2020. Retrieved 13 May 2020.
  20. ^ "Top 1000 World Banks 2020: Top 10 banks by Tier 1 capital: Globally". thebanker.com.
  21. ^ "GLOBAL 2000 The World's Largest Public Companies". Forbes. Retrieved 13 May 2020.
  22. ^ Mughal, Waqar. "30 Most Valuable Banks 2025". Forbes Lists. Retrieved 3 May 2026.
  23. ^ Mughal, Waqar. "First Abu Dhabi Bank (FAB)". Forbes Lists. Retrieved 4 May 2026.
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