First Abu Dhabi Bank (FAB)

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News

21 August 2024 01:04 PM FABMISR logs EGP 15.8bn net profits in H1-24

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, unveiled its financial results for the first half (H1) 2024, logging net profits of EGP 15.80 billion. The lender highlighted robust …

Banking and Finance

25 July 2024 11:58 AM FAB achieves AED 8.4bn net profits in H1-24

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) generated 3% higher net profits after tax at AED 8.40 billion during the first half (H1) of 2024, compared to AED 8.14 billion in H1-23. Operating income climbed by 16% year-on-year (YoY) to AED …

Financial Results

24 July 2024 03:49 PM FAB expands Visa B2B in region via new partnership

Abu Dhabi – Mubasher: Visa teamed up with First Abu Dhabi Bank (FAB) to expand the Visa B2B Connect network in the region, according to a press release. The collaboration aims to boost corporate cross-border payments, allowing businesses in the …

Companies Investments

19 June 2024 03:08 PM National Bank of Egypt signs $1bn syndicated loan; regional, international entities partake -Update

Cairo – Mubasher: The National Bank of Egypt (NBE) has announced, on 19 June 2024, the successful signing of a $1 billion senior unsecured syndicated term loan facility in which several regional and global financial institutions participated. The …

Banking and Finance

10 June 2024 08:47 AM FABMISR, Cayesh team up to reshape fintech finance in Egypt

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, penned a deal with Cayesh, the first supply chain finance company in Egypt. The two entities will join forces to leverage innovative …

Banking and Finance

30 May 2024 06:15 PM FABMISR delivers 108% annual leap in Q1-24 net profit

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, achieved a 108% year-on-year (YoY) jump in net profit to EGP 9.90 billion during the first quarter (Q1) of 2024. FABMISR said it …

Banking and Finance

7 May 2024 03:15 PM FABMISR opens 2 new branches in Giza, Cairo

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has inaugurated two new branches in Egypt. The new branches, the bank’s 66th and 67th in the country, are located on El-Haram Street in Giza …

Banking and Finance

1 May 2024 10:24 AM FAB registers higher profits at AED 4.1bn in Q1-24

Abu Dhabi – Mubasher: The net profits after tax of First Abu Dhabi Bank (FAB) surged by 6% year-on-year (YoY) to AED 4.15 billion in the first quarter (Q1) of 2024 from AED 3.92 billion. Total income stood at AED 7.97 billion in Q1-24, higher by …

Financial Results

3 April 2024 00:40 PM FAB partners with Microsoft to boost financial services globally

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 …

Banking and Finance

31 March 2024 02:31 PM FABMISR implements CBE’s 8% mortgage finance initiative

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 …

Banking and Finance

25 March 2024 00:28 PM Macro Group secures EGP 65m loan from FABMISR

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 …

Banking and Finance

12 March 2024 03:01 PM FABMISR partners with Drive Finance to foster payment solutions in Egypt

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 …

Companies Investments

7 March 2024 06:46 PM FAB forges extensive global partnership with Mastercard

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 …

Companies Investments

6 March 2024 04:48 PM FAB to pay 50% cash dividends for 2023

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 …

Cash Dividends

6 March 2024 10:04 AM FAB’s unit in Egypt opens new branch in Banha

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 …

Companies Investments

29 February 2024 06:08 PM FAB’s unit in Egypt records 131% leap in 2023 profits

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 …

Financial Results

1 February 2024 03:24 PM FAB unveils 22% jump in 2023 profits, highest dividends payout since 2020

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 …

Banking and Finance

13 December 2023 03:28 PM FAB’s unit in Egypt inaugurates new Islamic branch

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 …

Sukuk and Islamic Finance

6 December 2023 03:53 PM UAE’s FAB commits AED 500bn as largest sustainable financing by MENA bank

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 …

Banking and Finance

5 December 2023 06:02 PM FAB joins forces with ENGIE at COP28 to enhance decarbonisation solutions

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 …

Companies Investments

5 December 2023 05:04 PM DFM’s carbon credits pilot platform debuts at COP28 as trading commences; listed entities take part

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 …

Event

30 November 2023 01:47 PM FAB’s unit in Egypt posts 206% higher net profits in 9M-23

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 …

Banking and Finance

19 October 2023 05:29 PM FAB issues largest-ever USD Tier 2 conventional bond from MENA bank

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 …

Bonds

19 October 2023 01:47 PM FAB logs AED 12.41bn profits in 9M-23, unveils green investments

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 …

Financial Results

8 October 2023 05:32 PM FAB teams up with Masdar, Blue Carbon for MENA’s carbon trading

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 …

Banking and Finance