Private Banks

First Abu Dhabi Bank (FAB)

An independent review of First Abu Dhabi Bank (FAB) by our team of experts

Summary

First Abu Dhabi Bank (FAB) was created in April 2017 through the merger of First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD), and is today the UAE's largest bank by total assets.

It offers financial solutions, investment banking and both corporate and personal banking. Headquartered in Abu Dhabi, FAB has a presence across five continents and around 20 markets, including Europe, Africa and Asia Pacific.

The bank is authorised and regulated by the Central Bank of the United Arab Emirates and the Securities and Commodities Authority of the United Arab Emirates.

Pros

Global access
Strong e-banking
Well-known regional brand

Cons

Expensive
Not the best way to invest
Sales-oriented
Not a fiduciary

Our verdict

As the UAE's largest bank, FAB brings genuine scale, a strong balance sheet and global reach. For private banking, those are reasons to hold an account, not reasons to hand over the direction of your wealth.

At FAB you are assigned an account manager rather than a private banking specialist. That is well suited to retail and corporate banking. It is a different thing from private wealth advice, where what matters is not the size of the institution but whose interest the person across the table is paid to serve. An account manager is generally rewarded for selling the bank's products; a fiduciary is paid for judgement, and is bound to act in your interest even when the wisest course is to do nothing at all.

The structural point holds regardless of scale. A bank sells what a bank holds. Serious wealth work begins one level up, with the whole picture coordinated across your investments, structures, pensions, protection and succession, and with advice that answers to you rather than to a product shelf.

If you already bank with FAB, a no-obligation Second Opinion will show whether your portfolio still serves your plan, or whether the plan was ever the starting point. AES will also review the thinking that led to the investments you currently hold.

FAQs

Does FAB provide corporate banking?
- Yes. First Abu Dhabi Bank provides corporate and investment banking services, including business banking, global transaction banking and market insights, mainly targeted at government entities, financial institutions, MNCs and SMEs.