First Abu Dhabi Bank (FAB) is actively seeking acquisition opportunities in the Middle East and North Africa, as well as beyond those regions, provided such deals are commercially viable and add value to the UAE’s largest lender by assets, according to its chief executive.

Hana Al Rostamani, CEO of FAB, expressed openness to acquiring international banks if suitable opportunities arise, as part of the bank’s strategy to expand its global presence. However, she refrained from confirming any ongoing pursuit of such deals.

FAB focuses on opportunities that allow for swift portfolio growth, market entry, or platform enhancement. The bank’s overarching strategy revolves around these objectives.

Like its counterparts in the Gulf Cooperation Council (GCC), FAB aims to bolster its market dominance and extend its reach into European and Asian markets to become a global player.

While FAB remains interested in potential acquisitions, it also emphasizes organic growth and enhancing its core businesses, including corporate and investment banking, as well as wealth management.

The bank’s expansion efforts encompass various regions, with a particular focus on key markets such as Egypt and Saudi Arabia. It has been actively pursuing opportunities in these countries, both through organic growth and potential acquisitions.

FAB’s commitment to sustainability is evident in its lending targets and initiatives related to environmental, social, and governance (ESG) factors. The bank is on track to meet its lending goals and has facilitated significant sustainable financing, contributing to the UAE’s clean energy objectives.

With record profits and a strong financial position, FAB remains optimistic about its growth prospects, despite global economic challenges. The bank continues to invest in digital banking capabilities and sustainable practices to drive future growth and maintain its momentum.

Source: The National News