...June 6, 2023 - We expect First Abu Dhabi Bank (FAB) to remain the market leader in the United Arab Emirates (UAE), with deep-rooted domestic relationships that enable management to reinforce capital and maintain healthy asset quality and liquidity. - FAB's lending growth substantially outperformed the market in 2022. We expect associated risks will be well-managed. - Therefore, we affirmed our '##-/A-1+' ratings on FAB with a stable outlook. DUBAI (S&P Global Ratings) June 6, 2023--S&P Global Ratings today affirmed its '##-/A-1+' long- and short-term issuer credit ratings on First Abu Dhabi Bank PJSC (FAB). The outlook is stable. FAB's close, deep-rooted relations with the most stable entities in the UAE help to contain losses. Exposures to and funding from the very wealthy Abu Dhabi public sector will continue to serve as a stable anchor for FAB's balance sheet. Accounting for 30% of loans and 40% of deposits at the end of March 2023, these exposures are core to our expectations of balance...
