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Group Strategy

Our strategy is constantly evolving to reflect changing market dynamics and is executed with pride and precision by our diverse workforce across our operating divisions and geographic footprint.

2021

In 2021, we made significant progress on our growth agenda, particularly the strengthening of the core businesses across Investment Banking, Corporate and Commercial Banking, Consumer Banking and Global Private Banking as well as enhancement of our digital capabilities. We remain committed to driving a strong sustainability agenda at FAB and were placed in the ‘ESG Leader’ category by MSCI during the year.

During 2021, we have evolved our Group strategy to focus on accelerated growth across our core businesses as well as transformation of the Bank.

Below is a brief summary of our key priorities and major achievements during the year 2021.
Annual Report

Strategic Priorities & 2021 Achievements

Realign Business for Growth

• Creation of four distinct business lines for stronger customer connectivity and specialisation

• Retained market leading position in the UAE (Only regional bank amongst Top #5 MENA investment banking league tables)

• Uplift in Consumer NPS scores to ~60 points due to enhanced core offerings and improved customer experience

Accelerate Digitisation

• Significant progress in digital transformation

• Improved self-service capabilities and launched new functionalities

• Payments innovation

• Increased digital adoption, particularly in transactions and customer onboarding

- 88% of digitally available transactions and service requests performed through Internet banking and Mobile banking

- 37% new-to-bank CASA customers digitally onboarded

Enhance International Model

• Continued strengthening of international franchise (contribution to revenue increased to 18% from 16%)

• Egypt integration underway

• Received license for a branch in Shanghai, China

Embedding Sustainability

• First UAE and GCC Bank to join the Net-Zero Banking Alliance (NZBA)

• MSCI ESG Rating upgraded to ‘AA’, placing FAB in the ‘Leader’ category

• Led the issue of the first sustainability linked loan in global aviation

• New Group ESG strategy finalised and approved

• #1 in MENA Green bond market with Green bonds outstanding in excess of USD 1 billion across 10 issuances and 4 currencies

Unlocking Value (carve-outs and M&As)

• Completed carve-out of our payments business, and launched Magnati

• Completed acquisition of Bank Audi Egypt

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First Abu Dhabi Bank

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