First Abu Dhabi Bank
First Abu Dhabi Bank (FAB) (Arabic: بنك أبوظبي الأول) is the largest bank in the United Arab Emirates. It was formed as a merger involving First Gulf Bank and National Bank of Abu Dhabi.
 | |
| Public | |
| Traded as | ADX: NBAD |
| Industry | Banking |
| Founded | 2017 |
| Headquarters | Abu Dhabi, United Arab Emirates |
Key people | Abdulhamid Saeed, Group (CEO) |
| Website | www |
History
First Gulf Bank and National Bank of Abu Dhabi announced on July 3, 2016, that their boards of directors had voted unanimously to recommend to shareholders a merger of the two banks. The transaction was approved by the respective shareholders of the two banks on December 7, 2016.
The transaction was executed through a share swap, with FGB shareholders receiving 1.254 NBAD shares for each FGB share they held.[1]
Board of directors
The combined bank’s board includes four nominated directors of the former FGB and four nominated directors of the former NBAD.[1]
- Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman, former chairman of FGB
- Nasser Ahmed Alsowaidi, Vice-Chairman, former chairman of NBAD
- Abdulhamid Saeed, Chief Executive Officer, former board member and managing director of FGB
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References
- "Shareholders of NBAD, FGB approve merger". gulfnews.com. Retrieved 2016-12-07.
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