Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has raised $1.1 billion from a bond issue, Reuters reported on Tuesday.

Listed on the London Stock Exchange and the Taipei Exchange, the sold bonds will mature in three years.

The Abu Dhabi-listed bank’s bond issue was arranged by Citi and Standard Chartered banks.

In February, FAB posted a 4% year-on-year increase in profits for the fourth quarter of 2018, registering AED 2.9 billion ($790 million).