First Abu Dhabi Bank (FAB) News - Mubasher Info
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09 April 11:09 PM

First Abu Dhabi Bank (FAB)

Last update: 02:59 PM market time.
18.25
-0.22
-1.20%
Open 18.20
Previous Close 18.38
High 18.54
Low 18.00
Stock Statistics
Volume 4,766,044
Turnover 87,003,413.84
All data are 15 minutes late during market session

News

Photo Archive
9 March 2022 01:49 PM FAB, ADCB deny news on potential merger
Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB) have denied the news claiming a potential merger between the two entities. FAB and ADCB confirmed that they have not entered discussions to pursue any merger …
Banking and Finance
Photo Archive
23 February 2022 10:34 AM FAB expected to issue $500m Sukuk
Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) is forecast to issue $500 million Sukuk at an initial price of around 85 basis points over US treasuries, Reuters reported. The bank has begun taking orders for the Sukuk issuance, as shown by a …
Sukuk and Islamic Finance
Photo Archive
21 February 2022 11:35 AM EFG Hermes appoints financial advisor for FAB's non-binding acquisition offer
Mubasher: The board of Egyptian Financial Group Hermes Holding (EFG Hermes) has appointed a financial advisor and legal counsel for First Abu Dhabi Bank's (FAB) non-binding initial offer to acquire a majority stake in the company. EFG Hermes has …
Mergers and Acquisitions
Photo Archive
9 February 2022 00:23 PM FAB announces non-binding offer to acquire majority stake in EFG Hermes
Mubasher: Egyptian Financial Group Hermes Holding (EFG Hermes) has received a non-binding initial offer for First Abu Dhabi Bank (FAB) to acquire a majority stake in the company's issued capital. FAB plans to acquire at least 51% of EFG Hermes' …
Companies Investments
Photo Archive
27 January 2022 09:50 AM FAB's net profits jump 19% in 2021; dividends proposed
Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) reported an about 19% year-on-year (YoY) rise in the net profits attributable to the shareholders to AED 12.531 billion in 2021, compared to AED 10.555 billion. The bank's net interest income …
Banking and Finance
Photo Archive
21 December 2021 10:39 AM EDB, FAB to grant AED 165m credit facility to Lamprell
Abu Dhabi - Mubasher: Emirates Development Bank (EDB) and First Abu Dhabi Bank (FAB) will grant an AED 165 million revolving credit facility to Lamprell Energy, a service provider to the international energy sector, the Emirates News Agency (WAM) …
Companies Investments
Photo Gallery
24 November 2021 06:20 PM Lucky Egypt collaborates with FAB, Visa for new service
Cairo – Mubasher: Offers platform Lucky Egypt has signed a tripartite cooperation protocol with First Abu Dhabi Bank and Visa to launch FAB - Lucky Visa Platinum Credit Card, marking the first-of-kind tripartite partnership in the Egyptian digital …
Companies Investments
FAB receives EM Eurobonds collateral from Deutsche Bank
15 November 2021 04:29 PM FAB executes region's first green repurchasing transaction
Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) has conducted the Middle East's first green repurchasing (repo) transaction, structured with Deutsche Bank. Under this agreement, FAB receives EM Eurobonds collateral from Deutsche Bank and provides …
Banking and Finance
The bank’s net interest income decreased by 6% to AED 8.62 billion
28 October 2021 02:02 PM FAB’s net profits rise 26% in 9M
Abu Dhabi - Mubasher: The net profits attributable to the shareholders of First Abu Dhabi Bank (FAB) jumped by 26% to AED 9.21 billion during the first nine months of 2021, compared to AED 7.325 billion in the year-ago period, as shown by the …
Banking and Finance
The initial price guidance was set at 110-115 basis points over UK gilts
31 August 2021 01:16 PM FAB expected to sell $344m in 5-year bonds
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) is forecast to sell $344.38 million in five-year bonds, according to a document from one of the banks arranging the deal as cited by Reuters. FAB, HSBC, Standard Chartered, and TD Securities are …
Banking and Finance
The bank reported a 2% increase in operating income
28 July 2021 10:29 AM FAB sees 11% higher profits in H1-21
UAE - Mubasher: The net profits attributable to the shareholders of First Abu Dhabi Bank (FAB) increased to AED 5.353 billion during the first half (H1) of 2021, up 11% from AED 4.819 billion in the same half of 2020, according to the bank's …
Financial Results
MENA investors will be enabled to reach more than 100 markets
12 July 2021 04:28 PM FAB forms strategic alliance with State Street to support institutional investors in MENA
Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) has entered into a new strategic alliance with State Street Corporation, listed on the New York Stock Exchange (NYSE), to create a new service model for institutional investors in the Middle East …
Banking and Finance
The Middle East listed banks reduce competition and increase their expertise
16 June 2021 11:02 AM Saudi Arabia, UAE dominate Forbes Middle East’s top 50 listed banks
Mubasher: Saudi and Emirati banks had the most entries in Forbes Middle East’s Top 50 Banks in The Middle East list for 2021 with 10 financial institutions each. Qatar National Bank topped the region’s listed banks with profits of $3.3 billion and …
Banking and Finance
FAB Properties manages a diversified portfolio of over 20,000 units
7 June 2021 03:48 PM FAB Properties partners with Emirates International Gas for gas supply
UAE - Mubasher: FAB Properties, the subsidiary of First Abu Dhabi Bank (FAB), has partnered with Emirates International Gas (EIG) to offer gas supply services to its residential, commercial, and industrial properties. Under the agreement, EIG will …
Real estate
The UAE has followed the Kingdom with 20 companies
6 June 2021 10:05 AM Saudi Arabia, UAE lead Forbes Middle East's top 100 listed companies for 2021
Mubasher: Saudi Arabia and the UAE have dominated Forbes Middle East's annual ranking of the top 100 listed companies for 2021, with 37 and 20 companies, respectively. Saudi Arabia has had the most companies on the list, topped by Saudi Arabian …
Macroeconomics
FAB has a strong ESG risk assessment in its banking operations
2 June 2021 11:12 AM MSCI upgrades FAB's ESG rating to AA
Abu Dhabi – Mubasher: MSCI has upgraded the environmental, social responsibility, and governance (ESG) rating of First Abu Dhabi Bank (FAB) from A to AA, listing the bank in the 'leader' category. The rating upgrade was driven by the reassessment …
Banking and Finance
Photo Archive
9 May 2021 01:34 PM FAB completes share transfer process to acquire Bank Audi Egypt
Mubasher: First Abu Dhabi Bank (FAB) has completed the share transfer process to acquire 100% of the share capital of Bank Audi Egypt after receiving all necessary regulatory approvals. FAB will start integrating the assets and operations of Bank …
Mergers and Acquisitions
The bank's net interest income increased by 13%
22 April 2021 09:44 AM FAB reports 3% higher profits in Q1-21
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) reported a 3% growth in net profits attributable to the shareholders to AED 2.475 billion in the first quarter (Q1) of 2021 from AED 2.408 billion in the year-ago period, according to the bank's …
Financial Results
FAB will integrate Bank Audi Egypt and FAB Egypt
21 April 2021 02:57 PM FAB initiates share transfer process to acquire Bank Audi Egypt
Mubasher: First Abu Dhabi Bank (FAB) has started the share transfer process to acquire 100% of the share capital of Bank Audi Egypt, the subsidiary of Lebanon-based Bank Audi, after receiving the necessary regulatory approvals. Following the …
Banking and Finance
The deal will raise the bank’s market share to 4-5%
13 April 2021 11:20 AM FAB expects to complete acquisition of Bank Audi Egypt by 2021-end
By: Abdullah Bedeir Cairo – Mubasher: First Abu Dhabi Bank (FAB) is expected to complete its acquisition of Bank Audi Egypt before the end of 2021, pending the approval of the Central Bank of Egypt (CBE), FAB Egypt’s CEO Mohamed Fayed said. On the …
Mergers and Acquisitions
The combined net profits of the four largest banks in the UAE declined by 35%
10 March 2021 09:38 AM UAE banks' profitability expected to remain under pressure in 2021 - Moody's
UAE - Mubasher: UAE banks' profitability is expected to remain under pressure in 2021, as pressure on net interest income, their main source of revenue, continues and provisions rise further, according to Moody's Investors Service. In its recent …
Financial Results
Photo Archive
1 March 2021 00:41 PM FAB approves cash dividends of AED 8.08bn for 2020
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has approved the distribution of 74% cash dividends for 2020, equivalent to AED 8.08 billion or AED 0.74 per share, Emirates News Agency (WAM) reported.   In this respect, FAB’s Chairman, Sheikh …
Cash Dividends
The license will facilitate the membership of Misr for MCDR
14 February 2021 04:06 PM FAB obtains custody license from Egypt's Financial Regulatory Authority
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has obtained a custody license from the Egyptian Financial Regulatory Authority, according to a press release on Sunday. The license will facilitate the membership of Misr for Central Clearing, …
Banking and Finance
The Emirati bank has set initial price guidance of about 115 basis points
3 February 2021 11:33 AM FAB launches sterling-denominated bonds worth GBP 400m
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has issued GBP 400 million ($546.56 million) bonds due in December 2025 at 98 basis points over UK gilts, Reuters reported. The Emirati bank has set initial price guidance of about 115 basis points …
Banking and Finance
The lender’s net earnings amounted to AED 3.2 billion in Q4-20.
27 January 2021 11:11 AM FAB records AED 10.6bn profit in FY20; dividends proposed
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) reported AED 10.6 billion in net profits during the fiscal year (FY) ended on 31 December 2020, down from AED 12.5 billion a year earlier. The drop in FAB's annual profit reflects the …
Cash Dividends