Open main menu

First Abu Dhabi Bank (FAB) (Arabic: بنك أبوظبي الأول‎) is a bank operating in the United Arab Emirates. It was formed as a merger involving First Gulf Bank and National Bank of Abu Dhabi.

First Abu Dhabi Bank PJSC
بنك أبوظبي الأول
Public
Traded asADXNBAD
IndustryBanking
Founded2017 (2017)
HeadquartersAbu Dhabi, United Arab Emirates
Key people
Abdulhamid Saeed, Group (CEO)
Websitebankfab.ae

HistoryEdit

First Gulf Bank and National Bank of Abu Dhabi announced on July 3, 2016, that their boards of directors had voted unanimously to recommend to shareholders a merger of the two banks. The transaction was approved by the respective shareholders of the two banks on December 7, 2016.

The transaction was executed through a share swap, with FGB shareholders receiving 1.254 NBAD shares for each FGB share they held.[1]

Board of directorsEdit

The combined bank’s board includes four nominated directors of the former FGB and four nominated directors of the former NBAD.[1]

ReferencesEdit

  1. ^ a b "About the transaction". www.bankfortheuae.com. Retrieved 2017-09-05.