“2020 has been a year like no other, posing extraordinary challenges to the people and economies of the world that have been met with ingenuity, agility and collaboration. I am grateful to the UAE’s leadership for their guidance and decisive action in response to the pandemic, and to our board, management, employees and customers for their support and dedication throughout 2020.
“Against the turbulent and uncertain backdrop of 2020, FAB showcased strength, resilience and adaptability while supporting our customers, employees and communities in navigating unprecedented times and focusing on the long-term sustainability of our bank. We look back with pride on a year of leadership, collaboration and achievement, culminating in being named Banking Company of the Year at the 2020 Gulf Business Awards. In line with our commitment to deliver superior shareholder returns, FAB’s Board of Directors has recommended a cash dividend distribution of 74 fils1 per share for the full year ended 31 December 2020.
“As we look to the future and life after the pandemic, we are excited about the opportunity to deliver on our purpose to create value for our stakeholders by powering the UAE’s long-term growth. We are also committed to playing our part in creating a more sustainable world for the communities we serve and 2021 will see FAB continue to grow the bank around our customers wherever we operate, and to strengthen the foundation for our long-term success.”
“Today we also announce that André Sayegh, Group Chief Executive Officer, will be retiring next month after 21 years with First Abu Dhabi Bank (FAB) and previously First Gulf Bank (FGB). André Sayegh made a major contribution to the bank during his long tenure, culminating in 2020’s resilient performance despite the challenges facing the global banking sector and wider economy. FAB’s board and I express our gratitude and appreciation for André Sayegh’s achievements during his tenure and are pleased to nominate him to the Group’s Board of Directors, pending the approval of the Central Bank of the United Arab Emirates and the bank’s general assembly.
“I am delighted to announce that Hana Al Rostamani, Deputy Group Chief Executive Officer and Head of Personal Banking, will succeed André Sayegh as the new Group Chief Executive Officer. Hana Al Rostamani has more than 22 years of local and international experience in banking and financial services industry and has served as an independent director in Emirates Integrated Telecommunication Company (DU) and was Vice-Chairperson of the Emirates Institute for Banking and Financial Services (EIBFS). She is currently the Chairperson of FAB Private Bank Suisse (SA).
“FAB has always been an organisation that champions diversity and the appointment of our first female Group CEO to lead our company into the future is truly something to value.”