Press releases, Reports & Disclosures for First Abu Dhabi Bank

On 17 September 2024, First Abu Dhabi Bank (FAB) completed a co-investment with Brookfield Asset Management and other investors to acquire 100% of Network International Holdings Plc. This acquisition was conducted through BCP VI Neptune Bidco Holdings Limited, reinforcing FAB's leading position in the payments and financial services sectors in the Middle East and Africa. Following regulatory approvals, FAB and Brookfield will contribute their interests in Magnati Sole Proprietorship LLC in exchange for additional interests in Network Project Holdings 1 Limited, which will hold the combined businesses of Network and Magnati. This combination is expected to generate significant value, driving innovation and growth in the payments industry. For media inquiries, contact FAB Communications at prandmedia@bankfab.com and fabteam@webershandwick.com. For investor-related inquiries, contact FAB Investor Relations at IR@bankfab.com.

First Abu Dhabi Bank (FAB) has appointed Chris Jaques as Group Chief Risk Officer effective August 5, 2024. Mr. Jaques brings over 30 years of experience in the financial services sector, having held leadership roles in risk management, income derivatives trading, and multi-asset fund management. He joins FAB after an 11-year tenure at Deutsche Bank, where he most recently served as Chief Risk Officer for the UK and Ireland and Global Head of Enterprise Risk Management. FAB’s Board of Directors and leadership extend a warm welcome to Mr. Jaques. For media and investor inquiries, contact FAB Communications or FAB Investor Relations.

The Management Discussion & Analysis for the six-month period ended June 30, 2024, provides an overview of the financial performance and position of the company. It includes an analysis of the company's revenue, expenses, and profitability, as well as a discussion of key factors that influenced the results. The report also covers significant events and transactions that occurred during the period, and provides insights into future outlook and potential risks.

The text refers to the condensed consolidated interim financial information for FAB (First Abu Dhabi Bank) for the second quarter of 2024, covering the six-month period ending on June 30, 2024.

On July 11, 2024, the First Abu Dhabi Bank (FAB) addressed the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange regarding recent news reports. FAB clarified that reports suggesting it is considering acquiring a stake in Yes Bank Ltd are unfounded. The bank emphasized that it is not evaluating any potential offer for Yes Bank Ltd. FAB reiterated its focus on executing its growth strategy and delivering strong returns to shareholders. Any significant developments will be communicated to stakeholders in accordance with regulatory requirements. For media inquiries, contact FAB Communications, and for investor-related inquiries, contact FAB Investor Relations.

On January 7, 2024, First Abu Dhabi Bank (FAB) announced the departure of Chief Risk Officer Pradeep Rana due to personal reasons. Subramaniyan Iyer, the Deputy Chief Risk Officer, has been appointed as the Acting Chief Risk Officer effective June 28, 2024. The Board of Directors and leadership of FAB expressed their gratitude to Mr. Rana for his contributions during his four-year tenure. A permanent successor for the Chief Risk Officer role will be announced soon. In the interim, Mr. Iyer will collaborate with the executive team to uphold the bank's strong risk management culture. For media inquiries, contact FAB Communications at prandmedia@bankfab.com and fabteam@webershandwick.com. For investor-related inquiries, contact FAB Investor Relations at IR@bankfab.com.

The Abu Dhabi First Bank (FAB) has released a statement acknowledging recent market speculations. The bank reassures its focus on executing its growth strategy and providing strong returns to its shareholders. The statement also mentions that the bank may engage in strategic discussions about expanding its operational network in line with its overall banking operations. FAB ensures that any significant disclosures will be made in accordance with regulatory requirements.