Instead of failing, the National Bank of Abu Dhabi (NBAD) merged with First Gulf Bank (FGB) in 2017 to form First Abu Dhabi Bank (FAB). The merger aims to combine the strengths of both banks, enhance customer service capabilities and accelerate growth strategies in a rapidly changing global environment.
The combined FAB will be the largest bank in the UAE with total assets of more than US$180 billion and operations on five continents. As a result, NBAD did not go out of business, but continued to play an important role in the global financial markets through a merger and transformation into FAB.
