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First Abu Dhabi Bank (FAB)United Arab Emirates
Active
This profile is actively maintained
Last update: 2023-08-17 14:38:05
First Abu Dhabi Bank head offices, Khalifa Business Park Abu Dhabi. Photo: Google Earth/Streetview
Active
This profile is actively maintained
Last update: 2023-08-17 14:38:05
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About
| Website | https://www.bankfab.com/en-ae/about-fab |
| Headquarters |
Al Qurm – Business Park P.O. Box 6316
Abu Dhabi
United Arab Emirates
|
| CEO/chair |
Hana Al Rostamani Group CEO |
| Supervisor | |
| Ownership |
listed on Abu Dhabi Securities Exchange
First Abu Dhabi Bank's largest shareholder is the Mubadala Investment Company (37.9%). The bank's complete shareholder structure can be accessed here. |
First Abu Dhabi Bank (FAB) was established in April 2017 through the merger of the National Bank of Abu Dhabi and First Gulf Bank. FAB is the largest bank in the United Arab Emirates. It offers deposits, personal loans, e-banking, trade finance, foreign exchange, and other banking services. First Abu Dhabi Bank became a signatory to the Equator Principles in September 2015.
Sustainability
Commitments
Policies
Voluntary standards
First Abu Dhabi Bank's most important sustainability commitments can be found at the website sections listed below.
First Abu Dhabi Bank (FAB) has committed itself to the following voluntary standards:
Dodgy Deals
First Abu Dhabi Bank (FAB) is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of First Abu Dhabi Bank (FAB)'s link to these deals.
Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Resources
Documents
Links
Accountability
Grievances
First Abu Dhabi Bank does not have a complaints or grievances channel for individuals or communities that might have been affected by the bank's finance.
First Abu Dhabi Bank is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.
This page evaluates First Abu Dhabi Bank (FAB)'s responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
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Banks and Climate
Banks and Climate
Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of First Abu Dhabi Bank’s fossil fuel policy below.
Banks and Nature
Banks and Nature
FAB’s policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 0.2 out of 10 and ranking it as a laggard. FAB achieved a score of 0 out of 10 specifically for its policies related to the beef sector and 0.2 out of 10 for its policies related to the palm oil sector. In addition, BankTrack and the Environmental Paper Network have assessed FAB’s policies related to the pulp and paper sector.
Between 2016 and 2022, FAB provided USD 766 in credit to companies operating in these forest-risk sectors. For more information, see the links below.
Forest & Finance Policy Assessment 2022: Overall scores
BankLast update
Country
Score
Ranking
Details
First Abu Dhabi Bank (FAB)
2022-09-21
ARE
0.2
Laggard
0.2
0
Explanation
A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Forest & Finance Policy Assessment 2022: Beef
BankLast update
Country
Score
Ranking
Details
First Abu Dhabi Bank (FAB)
2022-09-21
ARE
0
Laggard
0
0
Explanation
A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Forest & Finance Policy Assessment 2022: Palm Oil
BankLast update
Country
Score
Ranking
Details
First Abu Dhabi Bank (FAB)
2022-09-21
ARE
0.2
Laggard
0.2
0
Explanation
A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Banks and Steel
Banks and Steel
Partner organisation Reclaim Finance’s 2023 report on metallurgical coal financing showed that First Abu Dhabi Bank provided US$ 1.2 billion in loans and underwriting to developers of new metallurgical coal between 2016 and 2022. Find further details on First Abu Dhabi Bank’s metallurgical coal financing and and how it compares to other large banks globally in the report.
Reclaim Finance tracks the metallurgical coal policies of financial institutions, including banks, in their Coal Policy Tool. BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of First Abu Dhabi Bank’s metallurgical coal policy below.
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