First Abu Dhabi Bank: Proving its worth
The UAE’s largest bank is widely considered to have made a success of its merger and is now looking to realize its international potential.
Success stories spawn imitators. Such is the case with First Abu Dhabi Bank (FAB), the large Emirati financial institution formed by the merger in April 2017 of National Bank of Abu Dhabi and First Gulf Bank.
Since then, a string of projected mergers and acquisitions have been announced in the Gulf, including, among others: Saudi British Bank and Alawwal Bank in Saudi Arabia; Kuwait Finance House and Bahrain’s Ahli United Bank; and Barwan Bank and International Bank of Qatar.
These proposed mergers reflect an urgent need for banking consolidation in the region. They are also a testament to FAB’s early success; such was its status as a test case for banking mergers in the region.