The merger of First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) has created the biggest bank in the UAE with approximately $175 billion of assets as at September-end 2017. The merger brings together two successful Abu Dhabi listed banks to create a new, well-balanced bank with the financial strength, expertise and global network to fuel growth in the UAE economy and drive the country’s international business relationships.
Sustainability News
FAB Leading the Sustainable Finance Movement in the Middle East
First Abu Dhabi Bank (FAB) is a regional leader in the sustainable finance market, as it received the EuroMoney Award for the Region’s Best Bank for Corporate Responsibility. By financing
or refinancing projects that have positive environmental and/ or social impacts, FAB has directly contributed to a number of important projects in line with the sustainability goals of the UAE
and the UN SDGs. For example, FAB (through legacy NBAD) is the first and only bank in the MENA region to structure, lead and issue a Green Bond in 2017 and this was followed by a series of firstever Green Private Placements from the region in 2019 and 2020.
In 2019, FAB exceeded the 2016 $10 bn x 10 years commitment to lend, invest and facilitate financing of sustainable projects. Furthermore, in 2019, FAB arranged an SDG-Linked Loan for
Etihad Airways, which was not only the first SDG-Linked Loan in global aviation, but also the first in the MENA region. In addition, FAB arranged and led the region’s debut Green Loan for Masdar
and the region’s inaugural corporate Green Sukuk for MAF. FAB is one of the region’s leading arrangers and bookrunners of green financings across loans and capital markets and these include
financings for DPW, State Bank of India, ICBC, Frasers Property and the Islamic Development Bank. FAB is also a market leader and innovator in sustainable Islamic financing, leading three
Vaccine Sukuk for IFFIM/the World Bank and continues to be a constituent in the FTSE4Good Index Series based on independent assessment of its ESG performance. Finally, FAB is the first MENA
financial institution to commit to implement the Task Force on Climate-related Financial Disclosures’ recommendations.
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