First Abu Dhabi Bank PJSC: Update to credit analysis

First Abu Dhabi Bank PJSC: Key facts and statistics - 2023 - Issuer Profile – 2024/03/29 – US$ 200.00 – ...First Abu Dhabi Bank PJSC (FAB) offers banking products and services to a wide range of customers through four core businesses (Investment Banking, Corporate and Commercial Banking, Consumer Banking and Global Private Banking), in addition to complementary activities through its various subsidiaries. FAB is one of the largest banks...

First Abu Dhabi Bank PJSC: Update to credit analysis - Credit Opinion – 2024/02/28 – US$ 250.00 – ...First Abu Dhabi Bank PJSC's (FAB) Aa3 long-term deposit rating incorporates a three- notch uplift from the bank's a3 Baseline Credit Assessment (BCA). This uplift is based on our assessment of a very high likelihood of support from the Government of United Arab Emirates (Aa2 stable) in case of need. FAB's a3 BCA reflects its strong capitalisation and liquidity, supported by a dominant domestic franchise and strong ties with the Government of Abu Dhabi (Aa2 stable). However, the bank's relatively weak asset quality, high borrower and funding concentrations, combined with high reliance on market funding, moderate these strengths. Our assessment of a very high likelihood of government support for FAB in case of need reflects the UAE government's around 38% ownership stake in FAB through Mubadala Investment Company's wholly owned subsidiaries, the bank's importance to the local financial system, its designation as a D-SIB by the UAE Central Bank, and the UAE authorities' track record of supporting...

First Abu Dhabi Bank PJSC: Update following ratings affirmation - Credit Opinion – 2023/07/11 – US$ 250.00 – ...First Abu Dhabi Bank PJSC's (FAB) Aa3 long-term deposit rating incorporates a three- notch uplift from the bank's a3 Baseline Credit Assessment (BCA). This uplift is based on our assessment of a very high likelihood of support from the Government of United Arab Emirates (Aa2 stable) in case of need. FAB's a3 BCA reflects its strong capitalisation and liquidity, supported by a dominant domestic franchise and strong ties with the Government of Abu Dhabi (Aa2 stable). However, the bank's relatively week asset quality, high borrower and funding concentrations, combined with high reliance on market funding, moderate these strengths. Our assessment of a very high likelihood of government support for FAB in case of need reflects the UAE government's around 38% ownership stake in FAB through Mubadala Investment Company's wholly owned subsidiaries, the bank's importance to the local financial system, the bank's designation as a D-SIB by the UAE Central Bank, and the UAE authorities' track record...

First Abu Dhabi Bank PJSC: Update to credit analysis - Credit Opinion – 2022/07/13 – US$ 250.00 – ...First Abu Dhabi Bank PJSC's (FAB) Aa3 long-term deposit rating incorporates a three- notch uplift from the bank's a3 Baseline Credit Assessment (BCA). This uplift is based on our assessment of a very high likelihood of support from the Government of United Arab Emirates (Aa2 stable) in case of need. FAB's a3 BCA reflects its strong capitalisation, resilient profitability and very strong liquidity, supported by a dominant domestic franchise and strong ties with the Government of Abu Dhabi (Aa2 stable). However, the bank's high borrower and funding concentrations, combined with high reliance on wholesale funding, moderate these strengths. Our assessment of a very high likelihood of government support for FAB in case of need reflects the UAE government's 37.9% ownership stake in FAB through Mubadala Investment Company's wholly owned subsidiaries, the bank's importance to the local financial system, the bank's designation as a D-SIB by the UAE Central Bank, and the UAE authorities' track record...

First Abu Dhabi Bank PJSC: Update to credit analysis - Credit Opinion – 2022/01/12 – US$ 250.00 – ...First Abu Dhabi Bank PJSC's (FAB) Aa3 long-term deposit rating incorporates a three- notch uplift from the bank's a3 Baseline Credit Assessment (BCA). This uplift is based on our assessment of a very high likelihood of support from the Government of United Arab Emirates (Aa2 stable) in case of need. FAB's a3 BCA reflects its strong capitalisation, resilient profitability and very strong liquidity, supported by a dominant domestic franchise and strong ties with the Government of Abu Dhabi (Aa2 stable). However, the bank's high borrower and funding concentrations, combined with high reliance on wholesale funding, moderate these strengths. Our assessment of a very high likelihood of government support for FAB in case of need reflects the UAE government's 37.9% ownership stake in FAB through Mubadala Investment Company's wholly owned subsidiaries, the bank's importance to the local financial system, the bank's designation as a D-SIB by the UAE Central Bank, and the UAE authorities' track record...

First Abu Dhabi Bank PJSC: Update to credit analysis - Credit Opinion – 2021/09/28 – US$ 250.00 – ...First Abu Dhabi Bank PJSC's (FAB) Aa3 long-term deposit rating incorporates a three- notch uplift from the bank's a3 Baseline Credit Assessment (BCA). This uplift is based on our assessment of a very high likelihood of support from the Government of United Arab Emirates (Aa2 stable) in case of need. FAB's a3 BCA reflects its strong capitalisation, resilient profitability and very strong liquidity, supported by a dominant domestic franchise and strong ties with the Government of Abu Dhabi (Aa2 stable). However, the bank's high borrower and funding concentrations, combined with high reliance on wholesale funding, moderate these strengths. Our assessment of a very high likelihood of government support for FAB in case of need reflects the UAE government's 37% ownership stake in FAB through Mubadala Investment Company's wholly owned subsidiaries, the bank's importance to the local financial system, the bank's designation as a D-SIB by the UAE Central Bank, and the UAE authorities' track record...

First Abu Dhabi Bank PJSC: Update post full-year 2020 results - Credit Opinion – 2021/03/03 – US$ 250.00 – ...First Abu Dhabi Bank PJSC's (FAB) Aa3 long-term deposit rating incorporates a three- notch uplift from the bank's a3 Baseline Credit Assessment (BCA). This uplift is based on our assessment of a very high likelihood of support from the Government of United Arab Emirates (Aa2 stable) in case of need. Our assessment of a very high likelihood of government support for FAB in case of need reflects the UAE government's 37% ownership stake in FAB through Mubadala Investment Company's wholly owned subsidiaries, the bank's importance to the local financial system, the bank's designation as a D-SIB by the UAE Central Bank, and the UAE authorities' track record of supporting banks in case of need. FAB's a3 BCA reflects its strong capitalisation, resilient profitability and strong liquidity, supported by a dominant domestic franchise and strong ties with the Government of Abu Dhabi (Aa2 stable). However, the bank's high borrower concentrations, combined with funding concentrations and reliance on...

Moody's assigns (P)Baa3(hyb) rating to Additional Tier 1 capital securities of First Abu Dhabi Bank PJSC - Rating Action – 2020/09/21 – US$ 180.00 – ...ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications. To the extent permitted by law, MOODY'S and its directors, officers,...