First Abu Dhabi Bank Dominates UAE Banking Industry

First Abu Dhabi Bank (FAB) has emerged as a leader in the UAE banking industry, with a significant presence in the country's financial sector.

FAB's strong brand recognition and reputation in the UAE contribute to its dominance in the banking industry.

The bank's extensive network of branches and ATMs across the UAE ensures that customers have easy access to its services.

First Abu Dhabi Bank is a leading financial institution in the UAE, with a rich history dating back to 1979. It was established by the government to provide banking services to the country's growing population.

The bank has undergone significant transformations over the years, with a major merger in 1993 that led to the formation of the National Bank of Abu Dhabi. This merger marked a significant milestone in the bank's history, expanding its reach and capabilities.

With a strong presence in the UAE, First Abu Dhabi Bank offers a wide range of banking services to individuals, businesses, and corporations. It has a large network of branches and ATMs, making it easily accessible to customers.

First Abu Dhabi Bank, also known as FAB, has a rich history that dates back to a merger between two UAE banks, FGB and NBAD.

The merger was announced on July 3, 2016, and was approved by the shareholders on December 7, 2016. The transaction was executed through a share swap, where FGB shareholders received 1.254 NBAD shares for each FGB share they held.

The merger led to the creation of the UAE's largest bank, First Abu Dhabi Bank, in April 2017. This marked a significant milestone in the bank's history and set the stage for its future growth and development.

The bank's new brand identity was launched in 2017, combining the 'Abu Dhabi' and 'First' identities from NBAD and FGB. The logo features the acronym F.A.B and the "Awwal" (First) brand mark, which represents growth and leadership.

In 2019, FAB began its international expansion with the start of operations in Saudi Arabia. This marked a significant step towards becoming a truly global bank.

The Bank of UAE is a dominant force in the country's financial landscape. It's the bank of choice across key segments in Abu Dhabi, and has even increased its market share in Dubai and Northern Emirates.

One of the key reasons for its success is its multichannel and 'smart' distribution model, which leverages on digital solutions. This approach has helped the bank stay ahead of the curve and meet the evolving needs of its customers.

The bank's everyday banking services are anchored in payment solutions and cards, making it a leader in this area. This focus on payment solutions has helped the bank build a strong reputation with its customers.

Here are some key statistics that highlight the bank's dominance in the UAE market:

First Abu Dhabi Bank has posted a net profit of AED 13.4 billion for the year 2022.

The bank's financial performance is a testament to its stability and growth.

First Abu Dhabi Bank has posted a net profit of AED 13.4 billion for the year 2022.

This impressive financial performance is a testament to the bank's solid business strategy and effective management.

AED 13.4 billion is a significant amount, and it's clear that the bank is doing well financially.

The bank's financial performance is a key indicator of its overall success, and it's something that investors and stakeholders pay close attention to.

First Abu Dhabi Bank's net profit of AED 13.4 billion in 2022 is a notable achievement that sets a positive tone for the future.

Let's take a closer look at the sales performance of First Abu Dhabi Bank across different activities.

The bank's investment banking arm has seen significant growth, with sales increasing from $0 in 2019 to $11.48 billion in 2023.

Corporate and Commercial Banking Group sales have also been on the rise, increasing from $1.99 billion in 2020 to $5.54 billion in 2023.

Consumer banking sales peaked in 2022 at $6.93 billion, but declined to $3.02 billion in 2023.

Personal Banking Group sales were the highest in 2019 at $6.6 billion, but have since been missing from the data.

Corporate and Investment Banking sales were substantial in 2019 and 2020, reaching $10.24 billion and $10.83 billion respectively, but have since been missing from the data.

The bank's Head Office saw a significant increase in sales from 2022 to 2023, rising from $1.54 billion to $3.47 billion.

Sales geography plays a significant role in understanding the financial performance of First Abu Dhabi Bank. The bank's sales have seen a significant increase in the UAE, growing from 15.72B in 2019 to 20.43B in 2023.

The UAE remains the bank's primary market, accounting for the majority of its sales. In fact, the bank's sales in the UAE have seen a steady increase over the years, reaching 20.43B in 2023.

The bank has also expanded its international presence, with sales in international markets reaching 4.25B in 2023. This is a notable increase from 3.41B in 2020 and 3.85B in 2021.

Here's a breakdown of the bank's sales geography:

The bank's sales in international markets have seen a steady increase, with a growth rate of 25% between 2021 and 2023.

FAB's Enterprise Architecture team wanted to consolidate data related to business capabilities and the IT landscape to make more informed decisions.

They established a single source of truth to record and maintain business capabilities, application, and infrastructure architecture data.

This involved partnering with a leading consulting firm to define the current and target landscape, resulting in a 400+ slide deck.

The team realized they needed a better way to maintain and share this critical data, making it accessible to all relevant stakeholders in a self-service way.

To ensure the reliability of data, they wanted it to be owned and maintained by application owners, rather than a centralized team.

Creating trust in the data was critical to their efforts, and they wanted a tool that served as a communication platform, not just for the EA team.

FAB evaluated leading EA solutions according to three basic principles: ease of use, simplifying the complexity of the IT landscape, and supporting collaboration.

They chose LeanIX because it could visualize their business and IT landscape in a simple, straightforward way, and could be configured without relying on LeanIX or third-party services.

The user-friendly interface and transparent license and support models of LeanIX as a SaaS product were key factors in their decision.

The management team at First Abu Dhabi Bank is led by Hana Al-Rostamani, the CEO, who oversees the bank's overall strategy and direction.

The bank's Director of Finance/CFO, Lars Kramer, has been in this role since April 30, 2023, and brings 57 years of experience to the position.

The bank's management team includes Compliance Officer Simon Thorn, who joined in June 2024, and Chief Operating Officer Suhail bin Tarraf, whose start date is not specified. Investor Relations Contact Sofia El-Boury has been in this role since March 31, 2017.

The management team at First Abu Dhabi Bank is comprised of experienced professionals who have taken on various roles to drive the bank's success. Hana Al-Rostamani serves as the CEO, overseeing the overall direction of the bank.

The bank's leadership also includes Lars Kramer, who has been the Director of Finance/CFO since April 30, 2023, at the age of 57. This experience in finance is crucial in making strategic decisions for the bank.

Simon Thorn is the Compliance Officer, taking on this role on June 12, 2024. His expertise in compliance will ensure that the bank operates within the necessary regulations.

Here is a brief overview of the bank's management team:

Suhail bin Tarraf is the Chief Operating Officer, but his exact start date is unknown.

The board members of First Abu Dhabi Bank are responsible for overseeing the bank's operations and making strategic decisions. The current chairman is Tahnoun Al-Nahyan, who has been in the position since March 30, 2017.

The board consists of several directors, each with their own area of expertise. Ahmed Mohammed Al-Dhahiri, for example, has been a director since March 30, 2017, and is 53 years old.

Other notable directors include Mohammed bin Saif bin Mohamed Al-Nahyan and Mohammed Al-Suwaidi, both of whom have been directors since March 30, 2017. They are 46 and 55 years old, respectively.

The bank also has a Shariah Board, which is responsible for ensuring that the bank's operations comply with Islamic law. The Shariah Board members include Mohammad Daud Bakar, who has been a member since February 23, 2020, and is 61 years old.

Here is a list of the current board members:

The company's holdings are a crucial aspect of its management and structure. The company has a diverse portfolio of assets, including real estate, stocks, and bonds.

The real estate holdings are a significant portion of the company's assets, with a total value of $500 million. This includes office buildings, retail spaces, and residential properties.

The company's stock portfolio is also substantial, with a total value of $200 million. This includes shares in major corporations and smaller startups.

In addition to these assets, the company also holds a large portfolio of bonds with a total value of $300 million. These bonds are issued by governments and corporations around the world.

The company's holdings are managed by a team of experienced professionals who work together to make strategic investment decisions.

First Abu Dhabi Bank has several group companies that operate in various sectors. First Abu Dhabi Bank Securities LLC is one such company, but its category and sector are not specified in the provided information.

First Abu Dhabi Bank (Paris) is a regional bank that provides banking services and is part of First Abu Dhabi Bank PJSC. It's located in France.

First Gulf Libyan Bank is another regional bank that offers commercial banking services and is based in Tripoli, Libya.

FAB Private Bank (Suisse) SA is an investment manager that offers wealth management solutions to high net-worth individuals. The company was founded in 2007 and is headquartered in Geneva, Switzerland.

Here are some key details about the group companies:

Project prioritization is a game-changer for organizations looking to make informed decisions about future technology investments.

Developing a process for prioritizing technology initiatives is key to achieving this goal, as seen in First Abu Dhabi Bank's (FAB) experience.

FAB created a framework that considers factors such as the target state for applications involved, project alignment with business and IT goals, business criticality, and associated risk.

A framework like this helps organizations avoid weeks and months of manual effort spent identifying which applications support which lines of business.

The framework can be implemented using LeanIX APIs, which enable the calculation of scores based on the considered factors.

By using this framework, FAB was able to prioritize projects in a data-driven way, making it easier to manage investments and modernize middleware or build an open API platform.

The end result is a more efficient and effective approach to project prioritization, allowing organizations to make better decisions and achieve their goals.

At First Abu Dhabi Bank, customer experience is at the forefront of their innovative approach. They're committed to putting customers first, which means investing in solutions that strengthen their financial well-being.

By doing so, FAB has managed to reduce application delivery times from 7 months to just 3 months. This is a significant improvement that shows their dedication to making things easier and faster for their customers.

The success of First Abu Dhabi Bank's Enterprise Architecture (EA) program is a testament to its effectiveness. Achieving clear visibility into the bank's enterprise architecture has been a major success, allowing informed conversations about technology investments.

Linking applications and projects to business capabilities has enabled the organization to have more informed conversations about technology investments. For example, consumer banking employees now have a view showing all the systems related to consumer banking.

The EA program has also enabled FAB to identify opportunities for reduction in its application landscape, with a 25% reduction opportunity in the landscape when considering decommissioning and consolidation.

Legacy systems can hold back innovation, but banks like FAB are refactoring their monolithic applications to adopt a microservices-based architecture.

This transformation accelerates development and improves business agility, as seen in FAB's experience.

FAB implemented Kong Gateway Enterprise to advance its legacy to cloud-native transformation initiatives.

The bank's goal is to deliver reliable financial services, which is a key aspect of its company-wide transformation.

By adopting a cloud-native approach, FAB can respond quickly to changing market conditions and customer needs.

The success of a well-implemented Enterprise Architecture (EA) program is a game-changer for any organization. Achieving clear visibility into the bank's enterprise architecture has been a major success, allowing for more informed conversations about technology investments.

Having a clear view of the bank's systems and business capabilities is a huge advantage. For example, consumer banking teams can now see all the systems related to their area, as well as how they fit into the bank's overall strategy.

Increasing and democratizing landscape data has also been a key success factor. This has enabled the bank to identify opportunities to reduce its application landscape, with a 25% reduction in the landscape being a notable achievement.

The automated process for project prioritization has also ensured confident, data-informed investment decisions. This has saved the bank weeks and months of time that would have been spent identifying which applications support which lines of business.

Having a self-service platform like LeanIX has been a huge game-changer for FAB's Group Chief Information Officer, Srinivasan Sampath. He can now extract the information he needs to make informed decisions in a matter of minutes.

First Abu Dhabi Bank has posted a net profit of AED 13.4 billion for the year 2022.

This impressive financial performance is a testament to the bank's stability and growth.

For the year 2022, First Abu Dhabi Bank has posted a net profit of AED 13.4 billion, a significant milestone in the bank's history.

The bank's financial health is a crucial aspect of its overall success, and it's clear that they're doing something right.

First Abu Dhabi Bank has demonstrated its ability to achieve strong financial results, a key factor in its position as a leading bank in the region.

The bank's net profit of AED 13.4 billion for 2022 is a substantial figure, reflecting the bank's commitment to delivering value to its shareholders and customers.