First Abu Dhabi Bank (FAB) News - Mubasher Info
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09 April 06:22 AM

First Abu Dhabi Bank (FAB)

Last update: 8 April 02:58 PM market time.
18.93
0.46
2.57%
Open 18.50
Previous Close 17.92
High 20.12
Low 18.00
Stock Statistics
Volume 15,233,008
Turnover 288,301,898.70
All data are 15 minutes late during market session

News

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, …
Company News
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 …
Financial Results
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 …
Corporate Actions
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 …
Banking and Finance
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 …
Real estate
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. …
Banking and Finance
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
Net profits were backed by asset growth and robust non-interest income
7 August 2019 00:38 PM UAE largest banks’ H1 profits hike on assets growth – Moody’s
UAE – Mubasher: The UAE’s four largest banks have reported a growth in their profits for the first half of 2019, which totaled AED 19 billion ($5.3 billion), according to a report by Moody's Investors Service Middle East Limited. The four banks …
Banking and Finance
Customers using the e-Dirham system will benefit from fixed competitive fees services
31 July 2019 04:48 PM UAE finance ministry, Etisalat ink deal on e-Dirham payment services
Abu Dhabi – Mubasher: The government of the UAE has signed an agreement with Emirates Telecommunications Group (Etisalat) to offer e-Dirham services on the company’s official portal. This deal has come in line with the UAE Ministry of Finance’s …
Ministries
The board of directors has not reached a final decision regarding this matter
21 July 2019 10:55 AM FAB proposes removal of foreign ownership limit
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), listed on the Abu Dhabi Securities Exchange (ADX), announced that it has discussed the removal of foreign ownership limit as a proposal during its board meeting. This proposal has been tackled for …
General Assembly
FAB’s board recommended removing the foreign ownership limit
18 July 2019 11:00 AM FAB’s stock hits highest level in 3M on Thursday
By: Mahmoud Gamal Abu Dhabi – Mubasher: The stock of First Abu Dhabi Bank (FAB) reached its highest level in three months by Thursday’s mid-session in line with the bank’s goal of raising foreign investors’ ownership and removing its limit. By …
Trading Activities
FAB's total assets stood at AED 775 billion by end H1-19
17 July 2019 06:17 PM FAB makes significant progress in H1 profits – CEO
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has delivered a record financial performance during the period from January to June 2019, group CEO of FAB Abdulhamid Saeed said, commenting on the AED 6.3 billion recorded in the first half this …
Financial Results
EPS stood at AED 1.12 in H1-19
17 July 2019 05:25 PM FAB records AED 6bn net profit in H1-19
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) achieved an increase of 4% in net profits to AED 3.2 billion during the second quarter of 2019 compared to the same period a year ago. During the first half of 2019, FAB also recorded a year-on-year …
Company News
The port operator is also planning to issue 10-year benchmark sukuk
11 July 2019 11:48 AM DP World to raise $700m in sukuk
UAE – Mubasher: DP World, a global port operator based in Dubai, is looking to raise around $700 million via conventional and Islamic bond issues on Thursday, Reuters reported, citing documents issued by banks involved in the deal. The port …
Company News
DP World appointed three international banks to arrange a series of investor meetings
9 July 2019 03:22 PM DP World appoints 3 int’l banks for dollar sukuk issue
UAE – Mubasher: DP World, a global port operator based in Dubai, has appointed three international banks to arrange a series of investor meetings in Hong Kong, Singapore, and London, starting Wednesday, 10 July, Bloomberg News reported. The banks, …
Event
FAB conducts its business in accordance with the highest professional standards
19 June 2019 01:22 PM FAB closes operations in Qatar, relinquishes QFC branch licence
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) will shut down its operations in Qatar as it has notified the Qatar Financial Centre Regulatory Authority (QFCRA) that it will relinquish its Qatar Financial Centre (QFC) branch licence and …
Company News
The two-year facility could be extended for one year at Zain’s request
16 June 2019 05:11 PM Saudi Zain inks SAR 2.3bn Islamic credit facility
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain) has signed a new Islamic Murabaha facility valued at SAR 2.25 billion to refinance its existing $599.808 million (SAR 2.250 billion) commercial loan with better terms. The …
Banking and Finance
Most of the ADX-listed banks posted solid profits for Q1
21 May 2019 11:37 AM Abu Dhabi banks report robust profits in Q1 - Analysis
By: Mahmoud Gamal Abu Dhabi – Mubasher: Most of the banks listed on the Abu Dhabi Securities Exchange (ADX) have posted solid profits for the three-month period ended 31 March 2019. Profits of the lenders operating in the oil-rich emirate were …
Financial Results
The card will provide many advantages for SMEs
15 May 2019 00:41 PM FAB launches ‘World’ credit card for SMEs
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), in collaboration with global payments giant Mastercard, will launch “World” credit card, which is the first of its kind in the UAE, for small and medium enterprises (SMEs). The card will provide …
Banking and Finance
This partnership allows customers in the UAE to send money in over 200 countries via payit
12 May 2019 02:29 PM FAB debuts MoneyGram innovative services in UAE via payit
Abu Dhabi -Mubasher: First Abu Dhabi Bank (FAB) on Sunday announced it has partnered with US-based financial services company MoneyGram to launch the latter’s services through the bank’s payit mobile wallet in the UAE. Accordingly, the UAE’s first …
Corporate Actions
Growth in the UAE’s banking sector is likely to near 12% by end-2019
7 May 2019 00:57 PM UAE banks post robust profit in Q1 - Analysis
By: Mahmoud Gamal Dubai – Mubasher: A number of the UAE-based banks have reported solid profits for the first quarter of 2019, overcoming major obstacles. Net profits of these banks reached around AED 10.7 billion during the three-month period …
Macroeconomics