Abu Dhabi, 22 July 2019: First Abu Dhabi Bank (FAB), the UAE’s largest bank, and one of the world’s largest and safest financial institutions, has been named ‘World’s Best Bank for Transformation’ at the Euromoney Awards for Excellence 2019, at the recent ceremony in London.
This year’s awards demonstrated the growing importance of the UAE’s banks to the global finance sector. FAB was given the award for best bank transformation after successfully merging, integrating and enhancing its services and offerings over the last two years. The win follows several recent accolades for FAB including being named ‘Best Bank for transformation in MEA’ and ‘Best Bank for Financing’ by the same publication.
André Sayegh, Deputy Group CEO and Group Head of Corporate and Investment Banking, FAB, said: “From merger to integration and beyond, FAB’s growth story underpins these prestigious awards. We are proud to be recognized by the prestigious financial publication for the collective achievements that have helped us to grow stronger. The formation of FAB was a significant milestone and catalyst for the UAE’s banking sector, and our integration journey was completed with a single-minded vision to empower our employees, communities, and customers. The Group has now unlocked the full potential of a unified bank with a unique competitive position, strong focus on customer experience, digitization, and growth. Looking ahead to the remainder of 2019, we will continue to pursue new opportunities and create greater value for all our stakeholders as we grow stronger, together.”
Launched in 1992, the Euromoney Awards for Excellence were the first of their kind in the global banking industry. Award submissions are analyzed and assessed by a team of editors, journalists and researchers in conjunction with the magazine’s own market knowledge and research before decisions are made by an editorial committee. This year Euromoney received almost 1,000 submissions from banks in an awards program that covers 20 global awards, more than 50 regional awards, and the best bank awards in close to 100 countries.
About First Abu Dhabi Bank (FAB)
FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi in Khalifa Business Park, the bank’s international network spans five continents, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad.
In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience, and will support the growth ambitions of its stakeholders across countries in which the bank operates.
To empower its customers and clients to Grow Stronger, FAB initiated a powerful movement, which goes beyond banking. The Grow Stronger movement represents the bank’s promise to support its stakeholders’ goals and growth ambitions, providing ideas, tools and expertise to help them become stronger, today and in the future.
With total assets of AED 775 Billion (USD 211 Billion) as of June-end 2019, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Finance? as the safest bank in the UAE and the Middle East. The Banker Magazine, has named FAB as the second largest bank in the Middle East by Tier 1 Capital in its Top 1000 World Banks 2019 ranking. FAB is well positioned to unlock the full potential of a unified bank with a strong focus on customer experience, digitisation and continued growth, as we enter the next phase of our journey to grow stronger.