First Abu Dhabi Bank

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) and Microsoft teamed up to develop new AI-based banking capabilities and bolster financial services, according to a press release. The two entities will partner to launch an AI Innovation Hub that …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has launched a mortgage finance system with an interest rate of up to 8%, in implementation of the latest initiative by the Central Bank of Egypt …

Cairo – Mubasher: The board members of Macro Group Pharmaceuticals - Macro Capital agreed to renew short-term financing from First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB. The board greenlighted the EGP 65 million …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has entered into a partnership with Drive Finance, a subsidiary of GB Capital owned by GB Corp. This collaboration will witness the integration of …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has entered an exclusive long-term global partnership with Mastercard. The landmark agreement encompasses four key markets – the UAE, Saudi Arabia, Oman, and Egypt – and aims to strengthen the …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) obtained the approval of its annual general meeting (AGM) to disburse 50% cash dividends, equivalent to AED 7.80 billion, for 2023. FAB will pay out a dividend of AED 0.71 per share to eligible …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), Egypt-based unit of the ADX-listed FAB, has inaugurated a new branch in Banha City, according to a press release. The inauguration marks the bank’s 65th branch and aligns with its objectives …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a business of the UAE listed FAB operating in Egypt, achieved a 131% year-on-year (YoY) jump in net profit to EGP 10.40 billion in 2023, according to the financial statements. The net loans …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) posted net profits worth AED 16.40 billion in 2023, up 22% year-on-year (YoY) from AED 13.41 billion, according to the financial results. The total income surged by 16% to AED 27.75 billion last …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a private bank of the UAE lender FAB in Egypt, has opened its new Islamic branch in the Fifth Settlement in New Cairo area to operate in line with Sharia terms and Islamic finance. The branch …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) announced plans to lend, invest, and facilitate more than AED 500 billion ($135 billion) in sustainable and transition financing by 2030. The target marks an 80% increase compared with FAB’s 2021 …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has teamed up with French energy multinational ENGIE by signing a memorandum of understanding (MoU) agreement during the 28th UN Climate Change Conference of the Parties (COP28) to advance their …

Dubai – Mubasher: The carbon credits trading pilot programme by Dubai Financial Market (DFM) was launched on 5 December 2023, where institutional investors will be able to buy and sell until 11 December. Making its debut at the 28th UN Climate …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a private bank operating in Egypt and a subsidiary of the UAE listed FAB, logged net profits valued at EGP 8.20 billion in the first nine months (9M) of 2023. The recorded net profits were …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) recently issued its inaugural USD Tier 2 capital securities at a value of $1 billion to become the largest conventional bond of its kind from a MENA bank. The 10.5NC5.5-year bond, which was offered …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) achieved net profits amounting to AED 12.41 billion in the first nine months (9M) of 2023, an annual hike of 58% from AED 10.95 billion. The recorded net profits exclude Magnati-related gains in …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) recently signed memoranda of understanding (MoUs) with renewable energy company Masdar and environmental asset developer Blue Carbon to boost the carbon trading market across MENA. The MoUs aim to …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a private bank operating in Egypt, witnessed 317% year-on-year (YoY) higher net profits at EGP 6.60 billion in the first half (H1) of 2023, according to the income statements.  The subsidiary …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) unveiled a strategic alliance with fintech firm Geidea as well as Magnati to provide digital payment acceptance services for Saudi Arabia-based businesses. The tripartite collaboration aims to be …

UAE – Mubasher: Six UAE lenders contributed to green financing with a total of AED 190 billion ($51.80 billion) by the end of 2022, the UAE Banks Federation (UBF) announced. The lenders are First Abu Dhabi Bank (FAB), Abu Dhabi Commercial …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) posted a net profit of AED 8.15 billion in the first half (H1) of 2023, an annual surge of 65% from AED 8.03 billion. The UAE lender stated that its H1-23 net profits are the highest-ever achieved …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a private bank operating in Egypt and the subsidiary of the UAE listed First Abu Dhabi Bank (FAB), generated EGP 4.79 billion worth of net profits in the first quarter (Q1) of 2023. The …

Mubasher: First Abu Dhabi Bank (FAB) has partnered with Saudi Arabia-based Alfanar to launch FAB’s Supply Chain Finance (SCF) programme in the Kingdom, aiming to expand its value-added trade product and channel capabilities across the region. Upon …

Abu Dhabi – Mubasher: The net profits attributable to the shareholders of First Abu Dhabi Bank (FAB) hit AED 3.92 billion in the first quarter (Q1) of 2023, an annual plunge of 23% from AED 5.12 billion. Basic and diluted earnings per share (EPS) …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a subsidiary of the UAE’s First Abu Dhabi Bank Group (FAB) and one of the largest foreign banks operating in Egypt, achieved a 129% year-on-year (YoY) surge in net profit to EGP4.50 billion in …