Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: د.إ0.43 (vs د.إ0.44 in 1Q 2025) First quarter 2026 results: EPS: د.إ0.43 (down from د.إ0.44 in 1Q 2025). Revenue: د.إ8.24b (up 1.8% from 1Q 2025). Net income: د.إ4.75b (down 1.8% from 1Q 2025). Profit margin: 58% (down from 60% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Apr 16
First Abu Dhabi Bank P.J.S.C. to Report Q1, 2026 Results on Apr 22, 2026 First Abu Dhabi Bank P.J.S.C. announced that they will report Q1, 2026 results on Apr 22, 2026 Upcoming Dividend • Mar 11
Upcoming dividend of د.إ0.80 per share Eligible shareholders must have bought the stock before 18 March 2026. Payment date: 10 April 2026. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Emirian dividend payers (6.5%). In line with average of industry peers (4.2%). Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Homaid Abdulla Al Shimmari was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Feb 06
First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Mar 11, 2026 First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Mar 11, 2026, at 15:00 Arabian Standard Time. Location: al qurm district behind khalifa park, abu dhabi United Arab Emirates Declared Dividend • Jan 30
Dividend increased to د.إ0.80 Dividend of د.إ0.80 is 6.7% higher than last year. Ex-date: 20th March 2026 Payment date: 10th April 2026 Dividend yield will be 4.3%, which is lower than the industry average of 5.8%. Sustainability & Growth Dividend is well covered by earnings (42% payout ratio) and is expected to be well covered in 3 years' time (44% forecast payout ratio). The dividend has increased by an average of 1.8% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 29
First Abu Dhabi Bank P.J.S.C. announces Annual dividend, payable on April 10, 2026 First Abu Dhabi Bank P.J.S.C. announced Annual dividend of AED 0.8000 per share payable on April 10, 2026, ex-date on March 20, 2026 and record date on March 23, 2026. Reported Earnings • Jan 29
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: د.إ1.85 (up from د.إ1.48 in FY 2024). Revenue: د.إ33.4b (up 21% from FY 2024). Net income: د.إ21.1b (up 29% from FY 2024). Profit margin: 63% (up from 59% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. Announcement • Jan 21
First Abu Dhabi Bank P.J.S.C. to Report Fiscal Year 2025 Results on Jan 27, 2026 First Abu Dhabi Bank P.J.S.C. announced that they will report fiscal year 2025 results on Jan 27, 2026 Reported Earnings • Oct 23
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: د.إ0.46 (up from د.إ0.38 in 3Q 2024). Revenue: د.إ8.49b (up 17% from 3Q 2024). Net income: د.إ5.12b (up 23% from 3Q 2024). Profit margin: 60% (up from 57% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 24
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: د.إ0.49 (up from د.إ0.38 in 2Q 2024). Revenue: د.إ8.74b (up 28% from 2Q 2024). Net income: د.إ5.44b (up 30% from 2Q 2024). Profit margin: 62% (up from 61% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 16
First Abu Dhabi Bank P.J.S.C. to Report Q2, 2025 Results on Jul 22, 2025 First Abu Dhabi Bank P.J.S.C. announced that they will report Q2, 2025 results on Jul 22, 2025 Reported Earnings • Apr 30
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: د.إ0.44 (up from د.إ0.35 in 1Q 2024). Revenue: د.إ8.09b (up 17% from 1Q 2024). Net income: د.إ5.13b (up 34% from 1Q 2024). Profit margin: 63% (up from 55% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 10.0%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 08
Dividend increased to د.إ0.75 Dividend of د.إ0.75 is 5.6% higher than last year. Ex-date: 20th March 2025 Payment date: 1st January 1970 Dividend yield will be 5.3%, which is lower than the industry average of 5.8%. Sustainability & Growth Dividend is covered by earnings (51% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 1.2% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 5.8% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 07
First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Mar 11, 2025 First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Mar 11, 2025. Reported Earnings • Feb 07
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: د.إ1.48 (up from د.إ1.43 in FY 2023). Revenue: د.إ27.7b (up 12% from FY 2023). Net income: د.إ16.3b (up 3.6% from FY 2023). Profit margin: 59% (down from 64% in FY 2023). The decrease in margin was driven by higher expenses. Non-performing loans: 4.80% (down from 5.33% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Jan 30
First Abu Dhabi Bank P.J.S.C. to Report Q4, 2024 Results on Feb 05, 2025 First Abu Dhabi Bank P.J.S.C. announced that they will report Q4, 2024 results on Feb 05, 2025 Reported Earnings • Oct 19
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: د.إ0.38 (up from د.إ0.36 in 3Q 2023). Revenue: د.إ7.29b (up 14% from 3Q 2023). Net income: د.إ4.46b (up 13% from 3Q 2023). Profit margin: 61% (down from 62% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) also surpassed analyst estimates by 8.8%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Sep 19
First Abu Dhabi Bank P.J.S.C. to Report Q3, 2024 Results on Oct 18, 2024 First Abu Dhabi Bank P.J.S.C. announced that they will report Q3, 2024 results on Oct 18, 2024 Announcement • Aug 21
First Abu Dhabi Bank P.J.S.C. Appoints Chris Jaques as Group Chief Risk Officer First Abu Dhabi Bank P.J.S.C. appointed Chris Jaques as Group Chief Risk Officer on 5 August 2024. With more than 30 years of experience in the financial services sector, Mr. Jaques brings a wealth of knowledge and expertise to FAB following various leadership roles in risk management, income derivatives trading and multi-asset fund management. Mr. Jaques joins FAB following 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. Reported Earnings • Jul 26
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: د.إ0.38 (up from د.إ0.38 in 2Q 2023). Revenue: د.إ6.86b (up 11% from 2Q 2023). Net income: د.إ4.19b (up 1.1% from 2Q 2023). Profit margin: 61% (down from 67% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 5.2%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jul 25
First Abu Dhabi Bank P.J.S.C. to Report First Half, 2024 Results on Jul 25, 2024 First Abu Dhabi Bank P.J.S.C. announced that they will report first half, 2024 results on Jul 25, 2024 Announcement • Jul 11
Investors from West Asia, Japan Reportedly Eying Yes Bank's $5bn Stake Sale First Abu Dhabi Bank P.J.S.C. (ADX:FAB) is among potential suitors for a roughly $5 billion stake in India's Yes Bank Limited (NSEI:YESBANK) according to people with knowledge of the matter. The West Asian lender is weighing a bid for as much as a 51% stake in YES Bank, the people said, asking not to be identified as the deliberations are private. The stake sale has also drawn preliminary interest from Japan, including Mitsubishi UFJ Financial Group, Inc. (TSE:8306) and Sumitomo Mitsui Financial Group, Inc. (TSE:8316), although it remains unclear how strong their appetite for a deal is and whether they will proceed, the people said. YES Bank shares have gained 16% this year, valuing the Mumbai-based lender at about $9.4 billion. Considerations are ongoing and the potential size of the stake sale could change, the people said. The banks may also decide against pursuing a deal or some could consider other investment options, the people said. Representatives for FAB, MUFG, and SMFG declined to comment. A representative for YES Bank didn't immediately respond to a request seeking comment. YES Bank said this week it hasn't received any in-principle approval from the Reserve Bank of India for a 51% stake sale. State Bank of India has pared its holding in YES Bank after rescuing the lender four years ago when it was inundated with bad loans. It remains its biggest shareholder with a 24% stake. SBI's chairman Dinesh Khara's tenure is due to end in August, potentially delaying a deal involving YES Bank. A government-appointed panel has recommended he be replaced by Challa Sreenivasulu Setty. Announcement • Jul 01
First Abu Dhabi Bank Announces Executive Changes First Abu Dhabi Bank announced the departure of Chief Risk Officer Pradeep Rana due to personal reasons, and the appointment of Subramaniyan Iyer, Deputy Chief Risk Officer, as Acting Chief Risk Officer effective 28 June 2024. The Board will announce a permanent candidate to succeed Mr. Rana shortly. In the meantime, Mr. Iyer will continue to work closely with the executive team to maintain the Bank's strong risk management culture. Announcement • Jun 15
First Abu Dhabi Bank P.J.S.C. Announces Executive Changes First Abu Dhabi Bank P.J.S.C. appointed Simon Thorn as Group Chief Compliance Officer and Neil Barrable as Group Chief Credit Officer to accelerate growth. Thorn brings compliance expertise from Barclays, while Barrable has 30 years of credit experience. Rajesh Deshpande transitions to a new role. Simon Thorn will oversee FAB's regulatory compliance, anti-money laundering, and financial crime policies and procedures, ensuring that FAB maintains the highest compliance standards in all its business activities. Thorn brings with him a wealth of expertise in compliance, having joined FAB in 2023 from Barclays Bank in the UK where he was Chief Compliance Officer. Prior to this, he held senior leadership positions in compliance in several high-profile organisations, including Merrill Lynch, Nomura, and the UK Financial Services Authority (FSA). Neil Barrable will lead FAB's credit function and brings with him nearly 30 years of experience in credit and its related functions, covering a wide range of markets and products. Barrable joins FAB from HSBC in London, where he was Managing Director, Global Head of Wholesale Credit & Lending. Prior to this assignment, he held senior executive positions with several leading international institutions in the Asia Pacific region, including JP Morgan, Barclays Capital, and Deutsche Bank. He assumes responsibilities from Acting Group Chief Credit Officer Rajesh Deshpande, who will now take up the position of Chief Strategic Business Initiatives Officer & Head of Capital Portfolio Management. Announcement • May 22
First Abu Dhabi Bank Reportedly in Advanced Talks to Buy Yapi Kredi First Abu Dhabi Bank P.J.S.C. (ADX:FAB) is in advanced talks to acquire Turkish conglomerate Koc Group's (Koç Holding A.S. (IBSE:KCHOL)) 61.2% stake in Istanbul-based lender Yapi ve Kredi Bankasi A.S. (IBSE:YKBNK) for about $8 billion, according to three sources close to the matter. Final details of the potential deal for Turkeys fourth-biggest private bank are being hammered out after several months of negotiations, the sources said on condition of anonymity because the talks are confidential. Shares in Yapi Kredi soared 10% after the news emerged, while Koc Holding jumped more than 9%, both touching record highs. FAB shares slipped slightly. One of the sources said that Turkish conglomerate Koc had sought about $8.5 billion for its shares in Yapi Kredi and that FAB had offered about $7.5 billion. FAB, the United Arab Emirates largest bank by assets, declined to comment. In a statement to the Istanbul bourse, Koc Holding referenced the Reuters report and said it was holding preliminary talks on the sale of Yapi Kredi shares, adding it can always negotiate "to evaluate possible alternatives" in its portfolio. "Although preliminary discussions of a similar nature continue regarding the issue reflected in the media, there are no developments that require public disclosure," it said. Koc Financial Services owns 40.95% of Yapi Kredi, while Koc Holding owns 20.22%. Reported Earnings • May 01
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: د.إ0.35 (up from د.إ0.34 in 1Q 2023). Revenue: د.إ6.95b (up 17% from 1Q 2023). Net income: د.إ4.15b (up 12% from 1Q 2023). Profit margin: 60% (down from 62% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Mar 06
First Abu Dhabi Bank Approves Cash Dividend for the Financial Year Ended 31 December 2023 First Abu Dhabi Bank (FAB) concluded its Annual General Meeting (AGM) held on 5 March 2024 at FAB's headquarters in Abu Dhabi. The company approved, including the distribution of 50% cash dividends (AED 0.71 per share, implying total cash dividends of AED 7.8 billion) for the financial year ended 31 December 2023. Owners of FAB shares registered on 15 March 2024 (that is buyers on 13 March 2024) are entitled to cash dividends. Announcement • Feb 08
First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Mar 05, 2024 First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Mar 05, 2024, at 12:00 Coordinated Universal Time. Location: 4th floor of the Bank's headquarters in Al Qurm district behind Khalifa Park, Abu Dhabi United Arab Emirates Agenda: To discuss and approve the report of the Board of Directors on the activity of the bank and its financial statements for the financial year ending 31/12/2023; to discuss and approve the report of the external auditors for the financial year ending 31/12/2023; to discuss and approve internal Shari'ah Supervision Committee annual report; to consider notification on payable Zakat in relation to the Bank's Islamic activities for the financial year ending 31/12/2023; to discuss and approve the Bank's balance sheet and profit and loss statement for the financial year ending 31/12/2023; and to consider other matters. Declared Dividend • Feb 03
Dividend of د.إ0.71 announced Shareholders will receive a dividend of د.إ0.71. Ex-date: 14th March 2024 Payment date: 1st January 1970 Dividend yield will be 5.0%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by earnings (40% payout ratio) and is expected to be well covered in 3 years' time (44% forecast payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 1.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: د.إ1.43 (vs د.إ1.18 in FY 2022) Full year 2023 results: EPS: د.إ1.43 (up from د.إ1.18 in FY 2022). Revenue: د.إ24.7b (up 15% from FY 2022). Net income: د.إ15.8b (up 21% from FY 2022). Profit margin: 64% (up from 61% in FY 2022). The increase in margin was driven by higher revenue. Non-performing loans: 5.33% (up from 5.19% in FY 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 22
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: د.إ0.36 (up from د.إ0.25 in 3Q 2022). Revenue: د.إ6.37b (up 33% from 3Q 2022). Net income: د.إ3.96b (up 42% from 3Q 2022). Profit margin: 62% (up from 58% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Announcement • Oct 14
First Abu Dhabi Bank P.J.S.C. to Report Q3, 2023 Results on Oct 19, 2023 First Abu Dhabi Bank P.J.S.C. announced that they will report Q3, 2023 results Pre-Market on Oct 19, 2023 Announcement • Sep 12
Aldar Estates agreed to acquire FAB Properties LLC from First Abu Dhabi Bank P.J.S.C. (ADX:FAB). Aldar Estates agreed to acquire FAB Properties LLC from First Abu Dhabi Bank P.J.S.C. (ADX:FAB) on September 11, 2023. The transaction is subject to regulatory approvals. Reported Earnings • Jul 21
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: د.إ0.38 (up from د.إ0.26 in 2Q 2022). Revenue: د.إ6.16b (up 32% from 2Q 2022). Net income: د.إ4.21b (up 48% from 2Q 2022). Profit margin: 68% (up from 61% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 9% per year. Announcement • Jun 03
First Abu Dhabi Bank Appoints Two New Executives First Abu Dhabi Bank (FAB) has announced the appointment of two new executives to the senior leadership team, as the UAE's largest bank moves forward in shaping the future with purposeful action for sustainable growth, and adding depth and specialisation to its offering. Sameh Al Qubaisi has been appointed Group Head of Global Markets. Eric Shehadeh has been named Group Head of Mergers & Acquisitions and Corporate Development, post regulatory approval, succeeding Karim Karoui, who will retire. The new appointments to FAB's Executive Committee reflect the bank's strategic focus on growth. Martin Tricaud, Group Head of Investment Banking, will continue to lead Investment Banking growth and expansion globally. In his role, Sameh Al Qubaisi will lead the Group's Global Markets function, expanding the business regionally and internationally. He will assume responsibility for the Global Markets business line, which encompasses trading, sales, products, and research. Thomas Spitz continues in his current role leading Global Markets' operations, reporting directly to Sameh. Martin Tricaud will continue overseeing the development and growth of FAB's Investment Banking Group globally, including expanding into new markets and adding new capabilities to the business. Eric Shehadeh will support FAB's regional and international expansion strategy, as he leads the Group's M&A function and strategic investments. He also will oversee FAB's Corporate Development efforts. Karim Karoui, who will retire, will assume an Advisory role overseeing strategic projects across the group, after two decades of significant contributions to the bank. Sameh Al Qubaisi joins FAB from the Abu Dhabi Department of Economic Development, where he has served as Director General of Economic Affairs and as Executive Director-Executive Affairs Office. He has also held senior roles with Abu Dhabi Investment Office and Finance House Group, and with FAB predecessor the National Bank of Abu Dhabi. Eric Shehadeh joins FAB from My Money Group in France, where he was President and CEO. Prior to that, he held senior roles at GE and GE Capital for 20 years, with a base in European, Asian and other markets, including the UAE. In previous roles, he consistently led and delivered ambitious growth and transformation projects across complex global organisations. Reported Earnings • Apr 28
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: د.إ0.34 (down from د.إ0.45 in 1Q 2022). Revenue: د.إ5.93b (down 13% from 1Q 2022). Net income: د.إ3.69b (down 26% from 1Q 2022). Profit margin: 62% (down from 74% in 1Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 6.2%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Announcement • Feb 11
First Abu Dhabi Bank Says Not Currently Evaluating Offer for Standard Chartered First Abu Dhabi Bank P.J.S.C. (ADX:FAB) said it was not currently evaluating an offer for Standard Chartered PLC (LSE:STAN). News of the potential offer first came on Jan. 5, 2023 when FAB said it had considered a bid for London-listed Standard Chartered but was no longer doing so. StanChart's shares rose by 11% on February 9, 2023 after Bloomberg News reported that the Abu Dhabi lender is considering reviving the bid once a lock-up period that prevents it immediately doing so expires, offering $30 billion to $35 billon. StanChart had a market value of nearly $27 billion, based on February 9, 2023 closing price. "First Abu Dhabi Bank PJSC notes the recent press speculation in relation to Standard Chartered and re-iterates that it is not evaluating a possible offer for Standard Chartered," the lender said in February 10, 2023 statement. It, however, added that it and related parties reserve "the right to announce an offer or possible offer for the company or make or participate in an offer or possible offer for the company," within six months of the date of this announcement. Announcement • Feb 10
First Abu Dhabi Bank Reportedly Explores $35 Billion Standard Chartered Offer First Abu Dhabi Bank P.J.S.C. (ADX:FAB) is pressing ahead with a potential USD 35 billion offer for Standard Chartered PLC (LSE:STAN), according to Bloomberg reports on February 9, 2023. Standard Chartered was the top FTSE 100 performing stock on February 9, 2023 morning, rising 9.4% to 753.70 pence each. Bloomberg said FAB's proposed acquisition of the London-based lender was still in play, after a move to put earlier takeover plans on hold "didn't halt its ambitions to become a global financial powerhouse". It added FAB is worth around twice as much as Standard Chartered and is considering an all-cash bid in the range of USD 30 billion to USD 35 billion. Announcement • Jan 27
First Abu Dhabi Bank P.J.S.C. Appoints Lars Kramer as Group Chief Financial Officer First Abu Dhabi Bank (FAB) has appointed Lars Kramer as Group Chief Financial Officer (GCFO), responsible for overseeing all financial activities, including Group-wide Finance,Treasury, Investor Relations and Strategy. He will report directly to the bank's Group Chief Executive Officer, Hana Al Rostamani, effective on 1 May 2023. Lars joins FAB following the decision of the bank's previous GCFO, James Burdett, to retire and return home to New Zealand. Lars is joining from Netherlands-based ABN AMRO, where he has been CFO since June 2021, and brings with him extensive banking industry experience in senior leadership positions. Previously, he was Group CFO at Hellenic Bank, and for almost 20 years worked with ING, where he was CFO for ING Direct, ING Retail Banking Direct and International, and ING Commercial Bank. He holds a Bachelor of Science in Accounting from the University of South Africa and a Master of Business Administration (MBA) from the University of Cape Town, specialising in finance, markets and strategy. Karim Karoui, Group Head of Mergers and Acquisitions will serve as interim GCFO and will transition toLars when he joins FAB in the second quarter. Karim will continue with his current responsibilities, while serving as interim GCFO. Previously, Karim served as CFO at First Gulf Bank (FGB). Reported Earnings • Jan 27
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: د.إ21.1b (up 6.7% from FY 2021). Net income: د.إ13.4b (up 10% from FY 2021). Profit margin: 64% (up from 62% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Banks industry in United Arab Emirates. Announcement • Jan 26
First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Feb 28, 2023 First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Feb 28, 2023. Agenda: To consider the dividend. Announcement • Jan 20
First Abu Dhabi Bank P.J.S.C. to Report Q4, 2022 Results on Jan 26, 2023 First Abu Dhabi Bank P.J.S.C. announced that they will report Q4, 2022 results at 10:00 AM, Arabian Standard Time on Jan 26, 2023 Announcement • Jan 06
First Abu Dhabi Bank Explores Offer for Standard Chartered First Abu Dhabi Bank P.J.S.C. (ADX:FAB) said it was reviewing a potential bid for Standard Chartered PLC (LSE:STAN), which would have been a complex deal aimed at building an emerging markets lender with more than $1 trillion in assets. The Middle East's largest bank was previously in the “very early stages of evaluating a potential bid for Standard Chartered,” but is no longer doing so, according to a regulatory filing filed on January 5, 2022. Bloomberg News reported earlier on January 5, 2022, that FAB has been rating Standard Chartered for more than six months as it considers a potential bid for the London-based lender. Abu Dhabi Bank had considered a full takeover of the London-based lender, according to people familiar with the matter. FAB, as the bank is known, has been working with advisers although no formal approach has been made, people said, declining to be identified as the consultations are private. The Gulf lender is also considering other deal structures, such as acquiring parts of the UK-based company, one of the people said. Any deal faces significant hurdles given the complexity of the transaction, they said. A Standard Chartered representative declined to comment. Standard Chartered shares rose as much as 21% on reported takeover interest before giving up most of those gains to trade 5.7% higher as of 2:05 p.m. in London. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Andre Sayegh was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: د.إ0.25 (vs د.إ0.34 in 3Q 2021) Third quarter 2022 results: EPS: د.إ0.25 (down from د.إ0.34 in 3Q 2021). Revenue: د.إ4.80b (down 14% from 3Q 2021). Net income: د.إ2.79b (down 26% from 3Q 2021). Profit margin: 58% (down from 67% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Announcement • Oct 27
First Abu Dhabi Bank P.J.S.C. Announces Retirement of Mr. James Burdett, Group Chief Financial Officer First Abu Dhabi Bank (FAB) announced that Mr. James Burdett, Group Chief Financial Officer, has decided to retire from his role to return home to his family in New Zealand. Mr. Burdett has made an outstanding contribution to FAB's financial performance and strategic vision during his eight-year tenure with the bank, leading an exceptionally strong Group Finance team. He will remain with FAB to provide continuing oversight and support, ensuring a smooth transition until a successor is appointed. Announcement • Oct 22
First Abu Dhabi Bank P.J.S.C. to Report Q3, 2022 Results on Oct 25, 2022 First Abu Dhabi Bank P.J.S.C. announced that they will report Q3, 2022 results at 1:00 PM, Arabian Standard Time on Oct 25, 2022 Reported Earnings • Aug 01
Second quarter 2022 earnings released: EPS: د.إ0.26 (vs د.إ0.26 in 2Q 2021) Second quarter 2022 results: EPS: د.إ0.26 (up from د.إ0.26 in 2Q 2021). Revenue: د.إ4.68b (up 3.7% from 2Q 2021). Net income: د.إ2.84b (up 1.0% from 2Q 2021). Profit margin: 61% (down from 62% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.3%, compared to a 20% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Board Change • Jul 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Andre Sayegh was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 23
First Abu Dhabi Bank P.J.S.C. to Report Q2, 2022 Results on Jul 27, 2022 First Abu Dhabi Bank P.J.S.C. announced that they will report Q2, 2022 results on Jul 27, 2022 Reported Earnings • Apr 29
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: د.إ0.45 (up from د.إ0.21 in 1Q 2021). Revenue: د.إ6.81b (up 74% from 1Q 2021). Net income: د.إ5.12b (up 117% from 1Q 2021). Profit margin: 75% (up from 60% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 39%. Earnings per share (EPS) also surpassed analyst estimates by 1.5%. Over the next year, revenue is forecast to stay flat compared to a 24% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Andre Sayegh was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 17
First Abu Dhabi Bank P.J.S.C. to Report Q1, 2022 Results on Apr 27, 2022 First Abu Dhabi Bank P.J.S.C. announced that they will report Q1, 2022 results on Apr 27, 2022 Price Target Changed • Apr 07
Price target increased to د.إ18.70 Up from د.إ17.44, the current price target is an average from 9 analysts. New target price is 22% below last closing price of د.إ23.88. Stock is up 68% over the past year. The company is forecast to post earnings per share of د.إ1.15 for next year compared to د.إ1.10 last year. Upcoming Dividend • Mar 02
Upcoming dividend of د.إ0.49 per share Eligible shareholders must have bought the stock before 09 March 2022. Payment date: 28 March 2022. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Emirian dividend payers (6.1%). Lower than average of industry peers (2.9%). Announcement • Mar 01
First Abu Dhabi Bank Approves Dividend for the Financial Year Ended 31 December 2021 First Abu Dhabi Bank has approved the dividend distribution of 70% of paid-up capital for the financial year ended 31 December 2021, or AED 0.70 equivalent per share, split into 49 fils in cash and 21 fils in the form of shares in lieu of cash, for a total of AED 7.64 Billion. Owners of FAB shares registered on Thursday 10 March 2022 (i.e. buyers on 08 March, 2022) are entitled to the dividends. Announcement • Feb 09
First Abu Dhabi Bank Reportedly in Talks to Buy EFG Hermes First Abu Dhabi Bank P.J.S.C. (ADX:FAB) is in talks to buy EFG-Hermes Holding S.A.E (CASE:HRHO), two sources with knowledge of the matter said. Rothschild is advising FAB on the deal, the sources said. FAB did not immediately respond to a Reuters request for comment. Reported Earnings • Jan 28
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: د.إ1.12 (up from د.إ0.93 in FY 2020). Revenue: د.إ19.0b (up 17% from FY 2020). Net income: د.إ12.5b (up 24% from FY 2020). Profit margin: 66% (up from 63% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 9.2%, compared to a 32% growth forecast for the banks industry in United Arab Emirates. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Jan 28
First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Feb 28, 2022 First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Feb 28, 2022. Major Estimate Revision • Aug 10
Consensus EPS estimates increase to د.إ1.07 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from د.إ18.7b to د.إ19.1b. EPS estimate increased from د.إ0.91 to د.إ1.07 per share. Net income forecast to grow 3.2% next year vs 11% growth forecast for Banks industry in United Arab Emirates. Consensus price target broadly unchanged at د.إ15.09. Share price was steady at د.إ16.90 over the past week. Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS د.إ0.26 (vs د.إ0.21 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: د.إ4.52b (up 21% from 2Q 2020). Net income: د.إ2.82b (up 20% from 2Q 2020). Profit margin: 62% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • May 07
First Abu Dhabi Bank P.J.S.C. (ADX:FAB) completed the acquisition of Bank Audi SAE from Bank Audi sal (BDB:AUDI). First Abu Dhabi Bank P.J.S.C. (ADX:FAB) signed a definitive agreement to acquire Bank Audi SAE from Bank Audi sal (BDB:AUDI) on January 20, 2021. As at end-September 2020, Bank Audi SAE had total assets of EGP 83.2 billion ($5.3 billion) and shareholders' equity of EGP 7.6 billion ($479 million). FAB Egypt’s Chief Executive Officer, Mohamed Abbas Fayed, has been identified to be appointed as Country Chief Executive Officer of the combined entity, following an independent due diligence and selection process. The acquisition is subject to customary closing conditions, including regulatory approvals in the UAE and Egypt. The agreement follows the completion of an in-depth due diligence exercise conducted by FAB on Bank Audi SAE after obtaining the preliminary approval of the Central Bank of Egypt. As of April 21, 2021, regulatory approval was received, and First Abu Dhabi Bank announced that it has initiated the process of share transfer for 100% of the share capital of Bank Audi SAE. Once the share transfer is complete, FAB will begin integrating the assets and operations of Bank Audi SAE and FAB Egypt, with the integration process expected to be finalized in 2022. Central Bank of UAE (CBUAE) and Central Bank of Egypt (CBE) has approved the transaction. The transaction is expected to be completed within the next few months. As of April 13, 2021, the transaction is expected to close before the end of 2021. As of April 22, 2021 the transaction is expected to be completed by 2022. The sale proceeds will contribute to the enhancement of Bank Audi’s capitalisation and financial resilience.
First Abu Dhabi Bank acted as financial advisor, and Freshfields Bruckhaus Deringer LLP and Matouk Bassiouny & Hennawy acted as legal advisors to FAB. EFG Hermes acted as sole financial advisor; and Christopher Field, Camille Abousleiman and James Stonehill of Dechert LLP; and Zulficar and Partners acted as legal advisors; and JPMorgan acted as fairness opinion provider to Bank Audi sal. UBS AG, London Branch acted as financial advisor to First Abu Dhabi Bank. Broadgate Advisers acted as financial advisor to Bank Audi sal.
First Abu Dhabi Bank P.J.S.C. (ADX:FAB) completed the acquisition of Bank Audi SAE from Bank Audi sal (BDB:AUDI) on May 5, 2021. First Abu Dhabi Bank P.J.S.C. will now begin integrating the assets and operations of Bank Audi sae (Egypt) and FAB Egypt, with the integration process expected to be completed in 2022. Reported Earnings • Apr 24
First quarter 2021 earnings released: EPS د.إ0.22 (vs د.إ0.20 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: د.إ3.91b (up 2.2% from 1Q 2020). Net income: د.إ2.36b (up 6.3% from 1Q 2020). Profit margin: 60% (up from 58% in 1Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Feb 03
First Abu Dhabi Bank Appoints Clarence Singam-Zhou as Head of International Banking First Abu Dhabi Bank (FAB) has appointed Clarence Singam-Zhou to the newly created role of Head of International Banking, subject to final regulatory approvals. Clarence Singam-Zhou has spent his career in the financial services industry and previously worked for Westpac Banking Corporation, PwC, Rabobank, Maquarie Securities and Temasek Holdings. Announcement • Jan 29
First Abu Dhabi Bank PJSC Appoints Hana Al Rostamani as Group Chief Executive Officer in Place of Andre Sayegh First Abu Dhabi Bank PJSC has appointed a new CEO. The firm has appointed Hana Al Rostamani as group chief executive officer. She is the bank's first woman CEO. Al Rostamani takes over from Andre Sayegh, who spent less than a year in the role. Reported Earnings • Jan 28
Full year 2020 earnings released: EPS د.إ0.93 (vs د.إ1.10 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: د.إ16.0b (down 13% from FY 2019). Net income: د.إ10.6b (down 12% from FY 2019). Profit margin: 66% (up from 65% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Jan 27
First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Feb 28, 2021 First Abu Dhabi Bank P.J.S.C., Annual General Meeting, Feb 28, 2021. Agenda: To consider the dividend Proposal. Is New 90 Day High Low • Jan 07
New 90-day high: د.إ13.50 The company is up 21% from its price of د.إ11.16 on 08 October 2020. The Emirian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.إ4.41 per share. Announcement • Dec 18
First Abu Dhabi Bank Appoints Walshalafah (Wal) Salleh as the Chief Representative Officer for the Jakarta Representative Office First Abu Dhabi Bank announced the appointment of Walshalafah (Wal) Salleh as the Chief Representative Officer for the Jakarta Representative Office. Wal is a seasoned corporate banker and brings with him multiple years of
experience in meeting the specific needs of clients and remaining firmly on the pulse of the Indonesian economy. Announcement • Dec 15
First Abu Dhabi Bank Partners with Visa to Launch Virtual Card Payment Solutions for Corporates First Abu Dhabi Bank has partnered with Visa to launch a comprehensive suite of digital payment solutions for corporate clients. The launch unveiled a Central Travel Account solution, designed to make it easier for companies to centrally manage travel payments by consolidating and matching key travel data with transactional financial data. This will help corporates in tracking and managing their travel spends and enable them to produce detailed reports highlighting savings. FAB also unveiled the first Visa Virtual Corporate Cards in the UAE, supported via Visa's Payables Automation (VPA) solution, to address payment challenges in Business-to-Business (B2B) payments. Offered as part of FAB's ongoing commitment to meet the evolving needs of each customer segment, VPA is designed to deliver transaction processing and remittance posting of virtual card payments to suppliers. It benefits businesses by saving time, reducing labour costs, improving cash flow, and providing better security against fraud. The VPA solution has several key features that make it an effective alternative payment method, such as configurable authorisation controls, single use accounts and a highly flexible technology integration approach. Is New 90 Day High Low • Dec 07
New 90-day high: د.إ13.04 The company is up 14% from its price of د.إ11.42 on 08 September 2020. The Emirian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.إ2.68 per share. Is New 90 Day High Low • Nov 04
New 90-day high: د.إ11.60 The company is up 4.0% from its price of د.إ11.12 on 06 August 2020. The Emirian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.إ2.78 per share. Reported Earnings • Oct 27
Third quarter earnings released Over the last 12 months the company has reported total profits of د.إ9.83b, down 17% from the prior year. Total revenue was د.إ16.0b over the last 12 months, down 13% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 27
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 0.9% at د.إ4.31b. Revenue is forecast to grow 18% over the next year, compared to a 28% growth forecast for the Banks industry in United Arab Emirates. Announcement • Oct 06
First Abu Dhabi Bank Expands its Relationship with iGTB Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, announced that First Abu Dhabi Bank (FAB), the largest bank in UAE, has expanded its relationship with iGTB to enhance the bank's liquidity management capabilities. With liquidity management now being seen as the key to cash management and vital to retain and attract the largest marquee clients, this move should help FAB achieve its stated aim of improving risk-adjusted returns. With iGTB's inter-company lending capabilities, FAB can now offer in-house banking capabilities to their top corporate client conglomerates. This helps their clients accelerate ideal allocation of debt versus equity within the wider group to support shareholder value creation, an optimal capitalisation of entities within that group to meet investment requirements and growth targets of Operation Heads of the entities and the opportunity for the Group Corporate Treasurers to leverage these various entities' different levels of funding access. This first, large scale intercompany lending implementation, the biggest in the region, positions FAB as a bank with a significant first-mover advantage in the region but also well on the way to becoming the principal banking service provider to corporates. Powered by iGTB's Digital Transaction Banking solution (DTB), the intercompany lending capabilities automate the execution of borrowing and lending within the entities of the corporate, tracking of loan agreements rules and parameters in terms of borrowing capacity, debt structure, repayments, facility limits and more. This signals a significant move from all manual processes thereby contextualising & automating the end-to-end process, and legal tracking including comprehensive interest calculation mechanism. This solution will also create the capability for treasurers and operations heads of the corporates to have an end-to-end single view to manage and optimize the complete process. The Liquidity Management Solution from iGTB is the most powerful such platform in the market, empowering corporate treasurers with not just pooling, sweeping and intercompany loans, but also policy-driven automated investment sweeps, cash flow forecasting and real-time funds checking. Crucially it includes features for Basel III compliance as well as handling local or regional regulatory as well as tax options, to ensure operational compliance and strong corporate governance. iGTB's liquidity solutions also delivers sophisticated automation and comprehensive analysis with a world-class comprehensive digital, self-service, front-end that delivers a faster, simpler and seamless experience to help banks gain and retain corporate clients. iGTB's proven Liquidity Management Solution is already used by a number of other UAE banks, also users of iGTB's Digital Transaction Banking suite, illustrating the attraction of consolidating IT estates and the strength of iGTB in the Middle-East. More than 30 other global banking groups are benefitting from this solution which handles 23% of the world's cross-border MNC sweeping structure flows and is present in more than 70 countries. Announcement • Jul 26
First Abu Dhabi Bank P.J.S.C. to Report Q2, 2020 Results on Jul 28, 2020 First Abu Dhabi Bank P.J.S.C. announced that they will report Q2, 2020 results on Jul 28, 2020 
