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    FAB   AEN000101016

FIRST ABU DHABI BANK P.J.S.C.

(FAB)
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End-of-day quote Abu Dhabi Securities Exchange  -  05-26
19.84 AED   +5.98%
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First Abu Dhabi Bank P J S C : FAB adopts Monday-to-Friday working week based on UAE Government and Central Bank of UAE Guidelines

12/23/2021 EDT

Abu Dhabi, 23 December 2021: First Abu Dhabi Bank (FAB) will adopt a Monday-to-Friday working week and Saturday-to-Sunday weekend across its UAE operations, effective from Monday 3 January 2022. The move supports the UAE leadership's ambition to better align the nation's economy with global markets and enable long-term growth opportunities.

FAB branches will open six days per week, Monday to Saturday, and will be closed on Sunday. The standard working week for FAB offices will be set to five working days, Monday to Friday.

The move to a Monday to Friday working week is a significant step, which further demonstrates the UAE leadership's commitment to driving economic opportunity and reinforces our position as a centre for international trade and commerce. At FAB, we fully support the UAE leadership's decision and will fully align our operations. This move will create more streamlined financial, trade, and economic partnerships between the UAE and the rest of the world, as well as facilitating stronger international links, opportunities and cascading benefits that will be felt by both UAE-based businesses and individuals alike.

In deciding on the new working arrangements, FAB has carefully assessed customers' needs and how best to maintain effective connectivity with the Bank's international and regional networks to ensure a smooth transition. FAB's branch and office networks in other GCC markets will continue to follow local timings.

Disclaimer

First Abu Dhabi Bank PJSC published this content on 23 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 December 2021 17:16:07 UTC.


© Publicnow 2021
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Financials
Sales 2022 22 581 M 6 148 M 6 148 M
Net income 2022 14 233 M 3 875 M 3 875 M
Net Debt 2022 - - -
P/E ratio 2022 15,5x
Yield 2022 3,38%
Capitalization 219 B 59 639 M 59 639 M
Capi. / Sales 2022 9,70x
Capi. / Sales 2023 9,05x
Nbr of Employees 5 451
Free-Float 62,1%
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Number of Analysts 11
Last Close Price 19,84 AED
Average target price 19,16 AED
Spread / Average Target -3,41%
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Managers and Directors
Hana Al-Rostamani Group Chief Executive Officer
James Burdett Group Chief Financial Officer
Tahnoun bin Zayed bin Sultan Al-Nahyan Chairman
Ahmed Mohammed Sultan Suroor Al-Dhaheri Non-Executive Director
Mohammed bin Saif bin Mohamed Al-Nahyan Vice Chairman