First Abu Dhabi Bank name gets shareholder approval

New name still needs approval of UAE Central Bank and SCA
First Abu Dhabi Bank name gets shareholder approval
By Parag Deulgaonkar
Tue 25 Apr 2017 10:37 AM

Shareholders of National Bank of Abu Dhabi (NBAD) on
Monday approved the proposal to rename the bank to First Abu Dhabi Bank,
according to state news agency Wam.

The new name was proposed by the bank’s board after
completion of its merger with First Gulf Bank (FGB) on April 2.

Abdulhamid Saeed, group chief executive officer, NBAD,
said: “Reflecting FGB and NBAD’s deep roots and experience in the region, the
new name, First Abu Dhabi Bank, represents our union as one uniquely strong
financial institution, which will support the economic development of Abu
Dhabi, the UAE and Mena region, and celebrates the proud legacies of both

“The strong endorsement of the new name amongst our
shareholders is a clear vote of support for the new journey we are now embarking
on together and our vision for the future.”

The new name will take effect upon post approvals from
the UAE Central Bank and Securities and Commodities Authority.

A new brand identity will be unveiled in due course,
WAM said.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.