First Abu Dhabi Bank

Stock performance

History

First Abu Dhabi Bank was formed in 2017 through the merger of National Bank of Abu Dhabi and First Gulf Bank, two of the emirate's largest banks, creating the largest bank in the United Arab Emirates by assets. The merger reflected a broader wave of Gulf banking consolidation aimed at building larger, more internationally competitive banks capable of financing the scale of investment tied to Abu Dhabi's oil-wealth-funded economic diversification ambitions, with the Abu Dhabi government retaining significant ownership influence.

Business model

First Abu Dhabi Bank provides retail, corporate, and investment banking services across the UAE and an extensive international network spanning over a dozen countries, reflecting Abu Dhabi's ambitions to be both a regional financial center and a global investment hub. Its scale and government backing give it substantial capacity to finance large domestic infrastructure and international investment activities.

Market position

First Abu Dhabi Bank is the largest bank in the United Arab Emirates by assets, ahead of Emirates NBD, and one of the largest banks in the broader Middle East and North Africa region. Its scale and government backing position it as a primary financial vehicle for Abu Dhabi's substantial sovereign investment and economic-diversification activities.

Country impact

First Abu Dhabi Bank is one of the most important financial institutions in the UAE, closely tied to financing the emirate of Abu Dhabi's economic-diversification strategy away from oil dependence. Its scale and international reach reflect the broader UAE ambition to position itself as a leading global financial and business hub.