First Abu Dhabi Bank (FAB) is the largest bank in the United Arab Emirates by total assets, formed in 2017 through the merger of the National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB). The merged institution has total assets exceeding $300 billion, making it one of the largest banks in the Middle East and Africa.
Formation
The merger was driven by the Abu Dhabi government to create a national champion bank with the scale, capital base, and operational capabilities to compete internationally. Both predecessor institutions were majority-owned by members of the Abu Dhabi ruling family and government-related entities. The consolidation reflected a broader trend in the Gulf banking sector toward larger, more resilient institutions.
Operations
FAB operates a full-service banking franchise spanning corporate and investment banking, retail banking, private banking and wealth management, and global markets. The bank serves government entities, large corporations, small and medium enterprises, and individual customers across the UAE and in international markets.
Geographic Reach
FAB maintains operations in major financial centres globally including London, New York, Paris, Hong Kong, Singapore, and Shanghai, as well as across the Middle East and Africa. The bank’s international network supports trade finance, correspondent banking, and capital markets activities for Abu Dhabi and UAE-based clients.
Credit Ratings
FAB holds among the highest credit ratings of any bank in the emerging markets, reflecting Abu Dhabi government support, strong capitalisation, and the emirate’s sovereign credit quality. The bank’s ratings from major agencies are at or near the sovereign ceiling for the UAE.
Listed Company
FAB is listed on the Abu Dhabi Securities Exchange and is one of the most heavily weighted stocks in the exchange’s index. The Abu Dhabi government, through various entities, retains a controlling stake.
Role in Vision 2030
FAB supports the Abu Dhabi Economic Vision 2030’s financial sector development objectives. The vision calls for a robust banking sector capable of financing economic diversification, supporting private sector growth, and competing internationally. As the UAE’s largest bank, FAB provides the financing infrastructure for government projects, corporate expansion, and the private sector development that the vision prioritises. The bank’s international operations also support Abu Dhabi’s goal of deepening global economic relationships.