Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) plans to issue dollar-denominated bonds worth $2 billion to $4 billion this year, the lender’s deputy CEO said.

The magnitude of the bonds issue will depend on market conditions, André Sayegh added.

He noted that the bank will focus on boosting its footprint in a slew of countries including China, India, Saudi Arabia and Egypt.

Sayegh pointed out that the bank’s systems have been fully and successfully merged, according to Reuters.

On the other hand, the bank expects high single-digit loan growth in 2019, according to the group chief financial officer James Burdett.

Profits of the UAE’s biggest lender by assets will be in the mid-single digit range after it reported a 10% rise in annual profit in 2018.

FAB’s net profits rose 10% to AED 12 billion during the full-year 2018, from AED 10.9 billion a year earlier.

By 11:23 am UAE time, FAB’s stock rose 0.27% at AED 15.14.