 | |
| Company type | Public Joint Stock Company |
|---|---|
| ADX: FAB | |
| Industry | Banking |
| Founded | 1968[1] |
| Defunct | 2016 |
| Successor | First Abu Dhabi Bank |
| Headquarters | UAE |
| Products | Loans, Savings, corporate banking, project finance, corporate advisory, treasury, leasing, property management, Islamic banking[2] |
| Total assets | $220.4 billion (2015)[3] |
| Subsidiaries | FAB Properties | Dubai First | FAB Securities |
National Bank of Abu Dhabi (NBAD) (Arabic: بنك أبوظبي الوطني) was a bank operating in the United Arab Emirates (UAE) until it merged with the First Gulf Bank in December 2016 to form First Abu Dhabi Bank.[4] NBAD was the largest lender bank in the Emirate of Abu Dhabi and in the United Arab Emirates. NBAD had the largest market capitalization among UAE banks.[5]
NBAD's line of businesses included a range of retail banking, corporate, wholesale and investment banking, wealth management and private banking; as well as Islamic banking, brokerage, property management and leasing.
In 2015, NBAD set up a regional financial base in India as part of its overseas expansion strategy,[6]
NBAD had regional presence in Kuala Lumpur, Hong Kong and a representative office in Shanghai, China. The bank was also expanding to the South Korean market to broaden its presence in Asia.[7] In October 2012, the bank announced that it is planning to triple its contribution from Islamic banking by introducing sharia-compliant services in Oman and Malaysia.[8]
NBAD's international branch network, the largest among UAE banks, spanned across 17 countries in five continents, from the Far East to Americas.
In December 2016, shareholders approved the bank's plans to merge with the First Gulf Bank (FGB)[9] and both banks finalized the second-tier management by February 2017.[10] The plan to merge the banks, which was first announced in June 2016, will be executed through a share swap, with FGB shareholders receiving 1.254 NBAD shares for each FGB share they hold. The merged entity is now known as First Abu Dhabi Bank and is currently the largest bank in the Middle East and North Africa.[11]
- ^ "NATIONAL BANK OF ABU DHABI (NBAD:Abu Dhabi): Company Description - Businessweek". investing.businessweek.com. Archived from the original on 18 January 2013. Retrieved 28 November 2012.
- ^ "Home". bankfab.com.
- ^ "The World's Largest Public Companies". Forbes.
- ^ "About the Merger".
- ^ NBAD and FGB shareholders vote to create Middle East’s biggest bank: The National December 7, 2016
- ^ "UAE lender NBAD to enter India before end of 2014 - sources". Reuters. 21 May 2014. Retrieved 2018-02-19.
- ^ "UAE's bank issues US$163mil sukuk". The Star. Reuters. 26 November 2012. Retrieved 26 November 2012.
- ^ "UPDATE 1-National Bank of Abu Dhabi to expand Islamic banking". Reuters. Retrieved 28 November 2012.
- ^ Shareholders of NBAD, FGB approve merger:Gulf News, December 7, 2016
- ^ Ahead of merger, UAE banks NBAD, FGB finalise second-tier management:Emirates 24|7, February 7, 2017
- ^ "FGB-NBAD Merger".