Awards for Excellence country winners: UAE
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Awards for Excellence country winners: UAE

Best bank: FAB

FAB was the clear winner of Euromoney’s best bank award in the UAE this year following a strong financial performance, improvements in environmental, social and governance and sustainable finance, and advancements in technology.

The bank, which is headquartered in Abu Dhabi and operates in 20 markets, saw a 21% increase in profit-before-tax to Dh17.55 billion ($4.8 billion) in 2023, compared with Dh14.39 billion in 2022.

Total assets grew by 5% to Dh1.17 trillion, while return on tangible equity rose to 17.6% from 15.7% in 2022.

The bank added 33,000 new clients in consumer banking and 3,374 in corporate and commercial banking last year. This solidified its dominant position in the market, giving it a 29% share of total assets at the end of 2023.

The bank, led by chief executive Hana Al Rostamani, introduced several new products in the review period.

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