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 Tahnoon Bin Zayed Al Nahyan, said, “FAB’s position as the UAE’s safest and strongest bank enabled us to power economic growth, provide significant support to communities, and maximise returns to shareholders. I am proud of what we achieved against the challenging backdrop of 2020.”

Group CEO at FAB, Hana Al Rostamani, remarked, “FAB showed strength, resilience, and transformation in 2020. In difficult times, we were there for our customers, employees, and communities, and quickly adapted to new market dynamics. We also strengthened our position as the leading and most profitable bank in the UAE.”

In 2020, FAB reported AED 10.6 billion in net profits, down from AED 12.5 billion a year earlier.