First Abu Dhabi Bank’s (FAB) financial institutions business has translated balance-sheet muscle into regional leadership across lending, capital markets, agency and securities services during the review period.
In lending, the bank finished 2024 ranked in pole position in MENA as book runner by deal count and as administrative agent. It underwrote $10.2 billion across 34 loans, led the green-loan table with €824 million through nine facilities, and delivered syndicated solutions from China to Togo while keeping a razor focus on sustainable finance.
Flagship mandates included the $1 billion Banque Misr term loan and €1.5 billion Bank of Industry syndication, underscoring its ability to facilitate multi-currency books and assume sustainability-coordinator roles.
This structuring depth was mirrored on the agency side. FAB ended 2024 as the top administrative agent in MENA, the GCC and the UAE, administering $45.6 billion over 35 transactions in MENA and $44.1 billion over 31 deals in the GCC region. Its dedicated team now services clients in 33 geographies and provides security-agency coverage in 23 jurisdictions, spanning conventional, Islamic and ESG-linked structures.
FAB ended 2024 as the top administrative agent in MENA… administering $45.6 billion over 35 transactions
Debt capital markets strength has been equally pronounced. FAB ranked top five book runner for MENA financial institution G3 bonds and sukuk, pricing 31 issues, and raised about $13 billion for regional FI issuers – a 71 % jump in 2023. Deal highlights ranged from Al Rajhi’s $1 billion five-year sustainable sukuk, three times oversubscribed at US Treasuries + 90 basis points, to ADCB’s $500 million tier 2 notes, with one of the tightest tier 2 spreads ever achieved by a MENA bank, and Rakbank’s $600 million social bond, the region’s first public social issue by a financial institution.
Complementing primary market strength, the bank launched MENASSA, an integrated post-trade platform for MENA asset managers, securing over $1 billion of assets under administration in 2024. MENASSA leverages the region’s largest direct-custody network and fund-accounting support from State Street.
Finally, its global-markets franchise expanded product breadth, ranking in the top-three GCC FX market makers, closing the first green Islamic repo and the first voluntary carbon-credit trade in MENA. The desk unveiled 13 new products in FY 2024 while coordinating hedges on landmark project finance and airline transactions.
