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First Abu Dhabi Bank (FAB)United Arab Emirates

Active

This profile is actively maintained
Last update: 2024-05-31 00:00:00
First Abu Dhabi Bank logo. Photo: First Abu Dhabi Bank

Active

This profile is actively maintained
Last update: 2024-05-31 00:00:00
Bank info
BankTrack campaigns
All
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
Central Bank of United Arab Emirates
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.

Links

Sustainability

Reports, Policy and Frameworks

Sustainable finance framework

Bank policy
2024-02-12 00:00:00 | FAB

ESG Risk policy

Bank policy
2023-01-31 00:00:00 | FAB

ESG Risk Framework

Bank policy
2021-01-02 00:00:00 | FAB

Wolfsberg questionnaire

Bank policy
2018-09-03 00:00:00 | First Abu Dhabi Bank

Anti-money laundering policy

Bank policy
2017-06-05 00:00:00 | First Abu Dhabi Bank
First Abu Dhabi Bank (FAB) has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
Green Bond PrinciplesTags: bond issuance | investment | sustainable development
Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
United Nations Global CompactTags: United Nations | human rights
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
Resources
Documents
Links

NZBA 2024 Progress Report

Other document
2024-10-01 00:00:00 | NZBA

Annual report 2023

Annual report
2024-05-31 00:00:00 | FAB

Sustainable finance framework

Bank policy
2024-02-12 00:00:00 | FAB

Letter from BankTrack to First Abu Dhabi Bank on Ending support for metallurgical coal

Correspondence
2023-12-07 00:00:00 | BankTrack

Annual report 2022

Annual report
2023-05-16 00:00:00 | FAB

CSR report 2022

Annual report
2023-05-09 00:00:00 | FAB

ESG Risk policy

Bank policy
2023-01-31 00:00:00 | FAB

CSR report 2021

Annual report
2022-05-10 00:00:00 | First Abu Dhabi Bank

Annual report 2021

Annual report
2022-05-03 00:00:00 | First Abu Dhabi Bank

Annual report 2020

Annual report
2021-09-17 00:00:00 | First Abu Dhabi Bank

CSR Report 2020

Annual report
2021-09-17 00:00:00 | First Abu Dhabi Bank

ESG Risk Framework

Bank policy
2021-01-02 00:00:00 | FAB

Annual report 2019

Annual report
2020-09-28 00:00:00 | First Abu Dhabi Bank

CSR report 2019

Annual report
2020-09-28 00:00:00 | First Abu Dhabi Bank

CSR report 2018

Annual report
2019-10-04 00:00:00 | First Abu Dhabi Bank

Equator Principles report 2018

Other bank document
2019-07-31 00:00:00 | First Abu Dhabi Bank

Annual report 2018

Annual report
2019-06-30 00:00:00 | First Abu Dhabi Bank

Wolfsberg questionnaire

Bank policy
2018-09-03 00:00:00 | First Abu Dhabi Bank

CSR report 2017

Annual report
2018-03-31 00:00:00 | First Abu Dhabi Bank

Annual report 2017

Annual report
2018-03-31 00:00:00 | First Abu Dhabi Bank

Anti-money laundering policy

Bank policy
2017-06-05 00:00:00 | First Abu Dhabi Bank

NBAD annual report 2016

Annual report
2017-04-30 00:00:00 | NBAD

NBAD Corporate Sustainability report 2015

Annual report
2016-03-31 00:00:00 | NBAD

NBAD Annual report 2015

Annual report
2016-03-31 00:00:00 | NBAD
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.

Assessment of First Abu Dhabi Bank's coal policy in the Coal Policy Tool

Assessment of First Abu Dhabi Bank's policies in the Oil & Gas Policy Tracker
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.

Forests & Finance

Banks and beef

Banks and palm oil

Banks and pulp & paper

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
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
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
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.
Tracking the NZBA

Tracking the Net Zero Banking Alliance

First Abu Dhabi Bank is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.

Tracking NZBA banks commitments
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.

Metallurgical Coal Financing: Time to call it off 2023

Coal policy tool