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MarketScreener Homepage  >  Equities  >  Abu Dhabi Securities Exchange  >  First Abu Dhabi Bank P.J.S.C.    FAB   AEN000101016

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

(FAB)
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Israeli business delegations led by banks Hapoalim, Leumi to visit UAE

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09/06/2020 | 03:27am EDT
FILE PHOTO: A woman uses an automated teller machine (ATM) outside a Bank Hapoalim branch in Tel Aviv, Israel

The heads of Israel's two biggest banks will travel to the United Arab Emirates (UAE) this month, the first such visits since the two countries agreed to normalize relations.

One delegation led by Bank Hapoalim will leave on Sept. 8 and visit Abu Dhabi and Dubai, where it will meet with government and trade officials as well as the heads of the largest banks in the UAE.

Hapoalim CEO Dov Kotler on Sunday called it "a unique opportunity to establish economic relations and cooperation between our countries and their financial systems, which will yield economic growth for both parties."

He added there was an "immediate bilateral desire" to establish strong economic ties.

The chairman and CEO of Bank Leumi will head a second delegation on Sept. 14. Leumi said it hoped to build on the diplomatic accord by kick-starting cooperation in finance, technology, health, tourism, agriculture and industry.

Israel and the UAE announced in August they would normalize diplomatic ties and forge a broad new relationship in a U.S.-brokered deal. Last week, they agreed to set up a joint committee to cooperate on financial services, aiming to promote investment between the two countries.

First Abu Dhabi Bank, the UAE's largest lender, said last week it would open discussions with Hapoalim and Leumi.

(Reporting by Tova Cohen; Editing by Mark Potter)


Stocks mentioned in the article
ChangeLast1st jan.
BANK HAPOALIM B.M. -0.71% 1955 Delayed Quote.-30.61%
BANK LEUMI LE- ISRAEL B.M. -1.11% 1600 Delayed Quote.-34.81%
EURO / DIRHAM (EUR/AED) 0.53% 4.3447 Delayed Quote.4.50%
FIRST ABU DHABI BANK P.J.S.C. -0.71% 11.16 End-of-day quote.-26.39%
US DOLLAR / DIRHAM (USD/AED) 0.00% 3.6728 Delayed Quote.0.00%
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Financials
Sales 2020 18 341 M 4 993 M 4 993 M
Net income 2020 8 781 M 2 391 M 2 391 M
Net Debt 2020 - - -
P/E ratio 2020 14,3x
Yield 2020 4,34%
Capitalization 123 B 33 359 M 33 359 M
Capi. / Sales 2020 6,68x
Capi. / Sales 2021 6,42x
Nbr of Employees -
Free-Float 66,6%
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Technical analysis trends FIRST ABU DHABI BANK P.J.S.C.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 11,67 AED
Last Close Price 11,24 AED
Spread / Highest target 17,4%
Spread / Average Target 3,78%
Spread / Lowest Target -13,3%
EPS Revisions
Managers
NameTitle
André Sayegh Group Chief Executive Officer
Tahnoun bin Zayed bin Sultan Al-Nahyan Chairman
James Burdett Group Chief Financial Officer
Ahmed Mohamed Sultan Al-Dhaheri Director
Khalifa Sultan Ahmed Sultan Al-Suwaidi Director
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