Annual Report and Accounts 2017

First Abu Dhabi Bank logo

This is our story

The merger of two successful banks has created a new entity with the financial strength, expanded expertise and global network to drive growth in the UAE’s economy and the Middle East, while also opening up international growth opportunities to become the financial powerhouse of the region.

At a glance

A new bank with
financial strength, expertise
and a strong global network


Total Assets


Market Capitalisation


Basel III Capital Adequacy Ratio


Return on Tangible Equity


Branches/Cash offices in UAE


Countries of operation (outside the UAE)


At a glance (PDF)

Where we operate

Our vision and strategy

Creating value for our customers, employees, shareholders and communities to grow stronger through differentiation, agility and innovation.


We empower our customers to grow stronger through choice, convenience, and customised products and services.


We create an enviroment where our people can leverage their strengths and excel in their performance.


We deliver superior and sustainable returns to our shareholders.


We build a legacy of positive change in our communities.

Our vision and strategy (PDF)

Chairman's statement

Becoming the engine
that drives growth and prosperity in UAE

On behalf of the Board of First Abu Dhabi Bank (FAB), I am pleased to present the Group’s first Annual Review highlighting the Bank’s achievements in a transitional year in which it delivered a resilient performance and high returns for shareholders.

FAB’s 2017 results are a testament to the sound rationale behind the merger, and clearly demonstrate that it was a well-planned and strategic decision based on forward-looking market perspective and insights. Our merger, which was legally accomplished in April 2017,

created the UAE’s largest bank, with the aim of actively supporting the UAE’s economy by combining the solid expertise and strengths of both legacy banks.

FAB delivered a Group Net Profit amounting to AED 10.92 billion, and an Adjusted Group Net Profit for the full year of AED 11.52 billion after excluding integration costs and merger-related amortisation of intangibles. This was broadly in line with 2016, reflecting a resilient performance in a year of transition.

Tahnoon Bin Zayed Al Nahyan
FAB Chairman
Chairman's statement (PDF)

GCEO review

our business

I am remarkably proud to have the opportunity, in FAB’s first annual review, to share with you our accomplishments for the first year of our integration, the tremendous opportunities ahead of us, as well as our strategic aspirations for the bank.

The merger that created FAB in 2017 will be remembered as a transformational event in the country’s history. While marking the start of a new journey, it created a stronger and larger bank, with the financial strength, expertise and international connectivity to be an engine for growth for our nation and beyond.

This merger is also embedded in Abu Dhabi’s transformation journey as it continues to make great progress in driving economic diversification to achieve sustainable, long term growth and prosperity.

Abdulhamid Saeed Group Chief Executive Officer
CEO of First Abu Dhabi Bank
GCEO review (PDF) Financial summary (PDF)

Our integration journey


3 July: FGB-NBAD merger announcement

Appointment of Chief Integration Officer and external consultants

Appointment of Senior Leadership team

Merger approved by shareholders at General Assembly Meeting

Filing of special resolution and credit objection period


2 April: merger completion, first day of trading of new shares

Name change to First Abu Dhabi Bank (FAB) approved by shareholders at General Assembly Meeting

Harmonisation of Group policies and risk framework, finalisation of organisational structure and operating model, and network optimization

CIB product and pricing harmonisation completed

Launch of new brand identity and brand roll-out across local and international network Subsidiaries: Integration of real estate and property management businesses completed, integration of Islamic finance subsidiaries on track; brokerage business rebranded

Milestones to be delivered in 2018

IT system integration on track to be completed around the end of 2018

PBG product and pricing harmonisation

Strategic review and implementation of international value proposition

Ongoing UAE and international network optimisation

Ongoing process refinements, simplification and automation

Our integration journey (PDF)

Business review


FABs market leading CIB franchise and UAE-dominating PBG businesses are well complemented by its network of subsidiaries.

Business Review (PDF)

“FAB’s international business, built around regional knowledge and relationships, remains a key competitive advantage with operations in 19 countries outside the UAE.”

Andre Sayegh, Deputy CEO André Sayegh Deputy Group CEO and Group Head of Corporate and Investment Banking

“During the year, PBG implemented a number of strategic initiatives designed to enhance the customer value proposition through cross-sell, innovation and technology, leading to increased efficiency and productivity across the business.”

Hana Al Rostamani, Group Head of Personal Banking Hana Al Rostamani Group Head of Personal Banking

One bank,
one vision, one team

As the UAE’s largest bank, it is our responsibility to support the country’s sustainability objectives included in the UAE Vision 2021, the UAE Green Agenda 2015-2030, the Abu Dhabi Economic Vision 2030, and the United Nations’ Sustainable Development Goals (SDGs) for 2030 to which the UAE is a signatory.

Sustainability (PDF)

Our people;
our most valuable asset


Total Number of Employees


Number of Nationalities


Percentage of Women in the Workforce


Our people (PDF)

Ensuring strength,
preserving safety

The Risk Management vision of FAB is to institutionalise a best in class, enterprisewide, integrated risk and compliance framework which is aligned with the Group’s vision to drive consistent value for all of the Group’s stakeholders through the optimisation of risk and reward.

Risk management (PDF) Pillar III Report (PDF)