FAB was established through a merger of the National Bank of Abu Dhabi and First Gulf Bank
in April 2017.
First Gulf Bank
was one of the first banks in the Middle East to realise that the future lies in mobile.
Speaking at an investment conference organised by First Gulf Bank
in the UAE, Alan Wilde, the head of Fixed Income and Currency at Baring, said: We are delighted to partner with one of the region's fastest growing regional banks and help contribute to the growth and diversity of the local investment markets.
The UK banking major gave no further details, but Reuters cited at the time an insider as saying that Barclays would shed its retail portfolio including credit cards, mortgages, personal lending and deposit operations, but it will hold on to its two branches in Dubai, with as many as 280 Barclays employees to be affected by the sale.UAE banks are seen to show interest in the business, the news agency said today.Country: UAESector: Banking/Financial ServicesTarget: Barclays' retail banking businessBuyer: First Gulf Bank
(FGB)Vendor: Barclays PlcType: Corporate acquisitionStatus: Bidding
"There has been a very positive response so far from the United Nations and the UAE," a First Gulf Bank
"This achievement demonstrates the significant resilience of First Gulf Bank
's financial performance even during this cycle of economic slowdown," Andre' Sayegh, CEO of First Gulf Bank
, said in press statement
Summary: First Gulf Bank
(FGB), one of the UAE's leading financial institutions, has opened a new branch in the emirate of Abu Dhabi at Mohammed Bin Zayed City.
Abu Dhabi Commercial Bank, the emirate's second-biggest lender, and First Gulf Bank
, will each also receive dhs4 billion by issuing Tier-I notes to the government, they said.
Each ad introduced the bank's new tag line: "First Gulf Bank
Summary: UAE's largest bank will start to install new FAB signage across First Gulf Bank
and NBAD branches
National Bank of Abu Dhabi (NBAD) (NBAD.ADSE) has received approval from its shareholders to merge with First Gulf Bank
(FGB), Arabian Business has reported citing a spokesman for NBAD.
Ahmed Ali Al Sayegh, chairman of Abu Dhabi Global Markets and vice-chairman of First Gulf Bank
, led the ribbon-cutting ceremony along with the managing director Abdulhamid Saeed, CEO Andre Sayegh and senior staff from the bank.