First Abu Dhabi Bank (FAB) News - Mubasher Info
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11 April 11:15 AM

First Abu Dhabi Bank (FAB)

Last update: 10 April 02:58 PM market time.
18.53
0.44
2.42%
Open 18.22
Previous Close 18.16
High 18.66
Low 18.22
Stock Statistics
Volume 2,181,939
Turnover 40,440,285.45
All data are 15 minutes late during market session

News

The bank will process around 3.5 million payment transactions
23 July 2020 11:09 AM FAB becomes Etihad's payment processing partner
Abu Dhabi – Mubasher: Etihad Aviation Group has selected First Abu Dhabi Bank (FAB) to become its online and in-store payment processing partner to provide travellers with innovative payment solutions. The bank will process around 3.5 million …
Banking and Finance
The bonds have a fixed rate to be paid every year in arrears
16 June 2020 04:29 PM FAB sells 5-year Formosa bonds at $197m
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has sold 5-year Formosa bonds at a total value of CNY 1.4 billion ($197.3 million) and with an interest rate of 3.5%, according to Reuters. The document showed that Credit Agricole, HSBC, and …
Banking and Finance
FAB issued its first green bonds in 2017
8 June 2020 03:05 PM FAB issues MENA's first green bonds in Hong Kong dollars
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has issued a five-year green bond worth HKD 750 million ($96.77 million) through a private placement. This is the first Hong Kong dollars-dominated green bond issuance in the Middle East and North …
Bonds
FAB sold 30-year Formosa bonds
3 June 2020 10:12 AM FAB sells $500m Formosa bonds in May
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) sold 30-year Formosa bonds with a 0% coupon at a total value of $500 million in a private placement last month, according to Reuters. Standard Chartered has solely arranged the transaction, in which …
Bonds
FAB agreed with Bank Audi to stop the acquisition process
19 May 2020 10:34 AM FAB halts Bank Audi-Egypt's acquisition process
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has agreed with Bank Audi to suspend the transaction process regarding its acquisition of the Lebanese bank's fully owned subsidiary in Egypt. This decision came amid the unprecedented circumstances …
Mergers and Acquisitions
FAB will provide custody, issuer, and transfer agent service
12 May 2020 00:04 PM FAB, Bahrain Clear ink custodian agreement
Mubasher: First Abu Dhabi Bank (FAB) has recently signed a depository agent agreement with Bahrain Clear to offer custody services to regional and international institutions in Bahrain Bourse. Under the agreement, FAB will provide custody, issuer, …
Banking and Finance
The bank's total assets jumped by 14%
28 April 2020 10:37 AM FAB sees 22% lower net profits in Q1-20
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) witnessed a 22.49% drop in its net profits attributable to the shareholders to AED 2.408 billion during the first quarter (Q1) of 2020, compared to AED 3.106 billion in the same quarter of 2019. The …
Financial Results
Profitability of the UAE’s four largest banks will be resilient
27 February 2020 00:42 PM UAE largest banks’ profitability to remain resilient in 2020 - Moody's
UAE – Mubasher: The profitability of the UAE’s four largest banks will likely remain resilient in 2020, benefitting from the strong public-sector loan growth, according to a recent report by Moody's Investors Service (Moody's) First Abu Dhabi Bank …
Banking and Finance
Andre Sayegh has been nominated for holding the position of the CEO
24 February 2020 05:18 PM FAB’s shareholders nod to AED 8bn dividends for FY19; board increased
Abu Dhabi – Mubasher: The shareholders of First Abu Dhabi Bank (FAB) approved, during the ordinary general meeting (OGM), to distribute 74% of the capital as cash dividends for fiscal year ended 31 December 2019. The UAE leading bank will pay 74 …
General Assembly
FAB made AUD 350 million in a five-year Kangaroo issuance
16 February 2020 06:58 PM FAB issues AED 3bn First-ever Sterling, Kangaroo bonds
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has raised more than AED 3 billion in three days from its first ever Sterling bond and first Kangaroo bond since 2014, according to a press release on Sunday. The UAE’s largest bank has issued GBP …
Bonds
Net interest income rose by 2% to AED 12.77 billion
28 January 2020 11:19 AM FAB sees 4% higher net profits in 2019
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) reported a 4% year-on-year increase in net profits, reaching AED 12.52 billion during fiscal year 2019 from AED 12.01 billion in 2018, the bank’s full-year financial results for 2019 showed. As for …
Financial Results
FAB’s offer is still under consideration
23 January 2020 10:59 PM Bank Audi reveals details of FAB’s acquisition offer
Cairo – Mubasher: Bank Audi on Thursday announced that it is in talks with some entities, including First Abu Dhabi Bank (FAB), for the sale of its unit in Egypt, according to a message sent to the Lebanese bank’s employees. FAB’s offer is still …
Banking and Finance
Acquiring Bank Audi’s unit in Egypt requires regulatory approvals
23 January 2020 01:21 PM FAB confirms talks to acquire Bank Audi’s branch in Egypt
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has confirmed that it held exclusive discussions with Lebanese Bank Audi to acquire its fully owned subsidiary in Egypt (Bank Audi-Egypt). However, FAB has not announced any valuations regarding the …
Companies Investments
Discussions are at an early stage
22 January 2020 11:33 PM FAB in talks to acquire Bank Audi’s unit in Egypt
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), listed on the Abu Dhabi Bank (ADX), is in talks to acquire Bank Audi’s unit in Egypt, Reuters reported on Wednesday. Discussions are at an early stage, a source familiar with the matter told the …
Banking and Finance
The opening ceremony was attended by top Saudi & Emirati officials
16 December 2019 11:25 AM FAB expands footprint in Saudi Arabia via 3rd branch
Abu Dhabi - Mubasher: The UAE’s largest financial institution, First Abu Dhabi Bank (FAB), has inaugurated a new branch in Jeddah in Saudi Arabia as part of its expansion strategy in the kingdom. The new facility follows the other two branches in …
General News
The step comes along with the bank’s plan to expand its footprint in Saudi Arabia
29 October 2019 03:05 PM FAB opens new branch at Al Khobar
Riyadh – Mubasher:  First Abu Dhabi Bank (FAB) has opened its second branch in Saudi Arabia at Al Khobar. The step comes along with the bank’s plan to expand its footprint in Saudi Arabia over the coming period to meet its customers' demand, …
Companies Investments
FAB opened its first branch in Saudi Arabia in May
24 October 2019 05:08 PM FAB to expand footprint in Saudi Arabia soon – CEO
Riyadh – Mubasher: First Abu Dhabi Bank (FAB) plans to expand its footprint in Saudi Arabia over the coming period to meet its customers' demand, according to Abdul Hamid Mohammed Saeed, CEO of FAB. Saeed added that the bank is about to open …
Banking and Finance
Net profit reached AED 3.11 billion in Q3-19
24 October 2019 04:04 PM FAB Q3 net profit up 3%
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), listed on the Abu Dhabi Bank (ADX), has reported a 3% year-on-year increase in net profit for the third quarter of 2019. Net profit reached AED 3.11 billion in Q3-19, versus AED 3.021 billion in …
Banking and Finance
Aldar plans to sell sukuk with a 10-year maturity and a benchmark size of not less than $500 million
8 October 2019 03:59 PM Aldar Properties’ arm appoints banks for US dollar sukuk issue
Abu Dhabi – Mubasher: Aldar Investment Properties, a wholly-owned subsidiary of the leading Abu Dhabi-based developer Aldar Properties, has appointed a group of banks to arrange investor meetings ahead of a planned US dollar-denominated sukuk or …
Sukuk and Islamic Finance
Abu Dhabi gov’t has started promoting the fixed-term bonds
23 September 2019 03:27 PM Abu Dhabi gov’t mandates banks for USD-denominated bonds sale
UAE – Mubasher: The Government of Abu Dhabi has assigned banks to issue US dollar-denominated bonds that cover maturities of five, 10, and 30 years, according to Reuters. BNP Paribas, Citigroup, First Abu Dhabi Bank (FAB), HSBC, JP Morgan, and …
Corporate Actions
Part of the signing ceremony
10 September 2019 05:51 PM ADX closes deal with FAB for digital dividend distribution
Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange (ADX) has signed an agreement with First Abu Dhabi Bank (FAB) for the distribution of cash dividends through the bank’s digital wallet, payit. Payit will enable ADX’s registered investors to …
Banking and Finance
The meetings will be held in Singapore, Hong Kong, and London as of 6 September 2019
3 September 2019 09:34 AM Emaar Properties appoints banks for 10-yr sukuk issue
Dubai – Mubasher: Emaar Properties, a global leading real estate developer based in Dubai, announced the appointment of Standard Chartered Bank as sole global coordinator and Dubai Islamic Banks as Shariah advisor. The two banks will be acting …
Sukuk and Islamic Finance
Total assets recorded $2.19 trillion in H1-19
26 August 2019 03:38 PM GCC banks’ assets hit $2.2trn in H1
By: Bedour Al Raee Mubasher: Assets of banks operating in the GCC increased by 9.13% year-on-year during the first half of 2019. Total assets recorded $2.19 trillion in H1-19, compared to $2.01 trillion in H1-18, according to Mubasher statistics. …
Macroeconomics
FAB is currently conducting the required processes to end its QFC branch operations
26 August 2019 02:19 PM FAB denies Qatar's QFCRA allegations
Abu Dhabi – Mubasher: UAE-based First Abu Dhabi Bank (FAB) announced that any allegations by the Qatar Financial Centre Regulatory Authority (QFCRA) claiming that its branch in the Qatar Financial Centre (QFC) failed to provide appropriate …
Company News
Emirati banks led the region in terms of profits
20 August 2019 09:29 PM GCC banks post $18.5bn profits in H1-19
By: Bedour Al Raee  Riyadh – Mubasher: A number of 61 banks in the GCC reported an 8.5% year-on-year profit hike during the first six months of 2019, recording $18.54 billion. Emirates NBD topped profitable banks in the GCC in H1-19, registering …
Banking and Finance