First Abu Dhabi Bank

First Abu Dhabi Bank PJSC
بنك أبوظبي الأول
Traded as	ADX: NBAD
Industry	Banking
Founded	2017
Headquarters	Abu Dhabi, United Arab Emirates
Website	www.bankfortheuae.com; www.nbad.com (NBAD); www.fgb.ae (FGB); www.bankfab.ae (FAB);

First Abu Dhabi Bank (FAB) (Arabic: بنك أبوظبي الأول‎) is a bank operating in the United Arab Emirates. It was formed as a merger involving First Gulf Bank and National Bank of Abu Dhabi.

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 M. Saeed, Chief Executive Officer, former board member and managing director of FGB

References

1 2 "About the transaction". www.bankfortheuae.com. Retrieved 2017-09-05.

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[:0-1] 1 2 "About the transaction". www.bankfortheuae.com. Retrieved 2017-09-05.