Best bank: FAB
FAB was the clear winner of Euromoney’s best bank award in the UAE this year following a strong financial performance, improvements in environmental, social and governance and sustainable finance, and advancements in technology.
AfE 2024
The bank, which is headquartered in Abu Dhabi and operates in 20 markets, saw a 21% increase in profit-before-tax to Dh17.55 billion ($4.8 billion) in 2023, compared with Dh14.39 billion in 2022.
Total assets grew by 5% to Dh1.17 trillion, while return on tangible equity rose to 17.6% from 15.7% in 2022.
The bank added 33,000 new clients in consumer banking and 3,374 in corporate and commercial banking last year. This solidified its dominant position in the market, giving it a 29% share of total assets at the end of 2023.
The bank, led by chief executive Hana Al Rostamani, introduced several new products in the review period.