Abu Dhabi, UAE October 17, 2018: First Abu Dhabi Bank (FAB) has been named “Safest Bank in the Middle East” for the second year running at Global Finance magazine’s Best Banks Awards. FAB was also recognised as one of the ‘World’s 50 Safest Banks’, and one of the ‘World’s 50 Safest Commercial Banks’ for 2018.
The award, in its 27th edition, evaluates the long-term credit ratings of banks across the world from global ratings agencies Moody’s, Standard & Poor’s and Fitch.
Commenting on the award, André Sayegh, FAB Deputy Group CEO and Head of Corporate & Investment Banking, said: “We are very proud to be receiving the Safest Bank in the Middle East Award for the second year in a row. This accolade serves as testament to our status as one of the world’s largest and safest financial institutions, and underscores the trust customers place in our products and services across multiple markets.”
He added: “Our capital ratios and liquidity metrics are robust and we operate in a healthy economic environment, backed by a strong and supportive government. These factors, combined with our excellent asset quality, and prudent approach to risk management leave us well placed to generate sustainable profitability and continue growing stronger.”
FAB’s solid fundamentals and financial strength has led the bank to become one of the most trusted banks in the region, with the strongest combined credit ratings of any bank in the MENA region – Aa3/AA/AA- by Moody’s, S&P and Fitch, respectively.