National Bank of Abu Dhabi
A major Abu Dhabi-based UAE bank that operated across retail, corporate, investment, Islamic and international banking before merging with First Gulf Bank to create First Abu Dhabi Bank.
Last updated August 31, 2026
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Overview
National Bank of Abu Dhabi (NBAD) was a major commercial and investment bank headquartered in Abu Dhabi, United Arab Emirates. Established in 1968 as the emirate’s first bank, it became one of the most important financial institutions in the UAE and the largest lender headquartered in Abu Dhabi. The bank served individuals, businesses, government-related entities, institutions and high-net-worth clients through a broad portfolio of retail banking, commercial banking, wholesale banking, investment banking, wealth management, private banking and treasury services. NBAD was also an early internationalizer among UAE banks. It opened its first overseas branch in Cairo in 1975, followed by expansion into Oman and Sudan in 1976, the United Kingdom in 1977, France and the United States in 1979. By the time of its merger, the bank maintained an international network spanning 17 countries and five continents, with branches, subsidiaries and representative offices extending from the Far East to the Americas. Its network included operations or offices in markets such as Egypt, Oman, Bahrain, Kuwait, Jordan, Sudan, Switzerland, France, the United Kingdom, the United States, Hong Kong and Malaysia, as well as representative offices in China, Brazil and Lebanon. The bank’s business model combined a domestic franchise in the UAE with a cross-border strategy referred to as the West-East Corridor. This strategy sought to connect markets stretching broadly from western Africa through the Middle East and into Asia. In 2015, NBAD established a regional financial base in India and continued developing its Asian presence, including activities in Malaysia, Hong Kong and a representative office in Shanghai. The bank also explored expansion in South Korea and sought to develop additional international banking franchises. NBAD offered Islamic financial services through Abu Dhabi National Islamic Finance Company, a subsidiary established in 2008. In 2012, the bank announced plans to increase its Islamic banking contribution and introduce Sharia-compliant services in Oman and Malaysia. Its other activities included brokerage, property management and leasing, in addition to conventional banking and capital-markets services. The institution was reorganized in 2013 into three principal business units: Global Wholesale, Gulf Retail and Commercial, and Global Wealth. Its geographic management structure separated the Gulf and international franchises. NBAD was majority-owned by Abu Dhabi Investment Council before the merger; in December 2013, the council held 70.2 percent of the shares according to the cited reference material. The bank was publicly listed in the UAE and was described as having the largest market capitalization among UAE banks during its final years. NBAD’s financial strength and close relationship with the government of Abu Dhabi were reflected in its credit ratings. Standard & Poor’s upgraded its long- and short-term counterparty credit ratings to AA-/A-1+ in October 2013 and maintained a stable outlook. Other ratings agencies also assigned high investment-grade ratings. Global Finance placed NBAD among the World’s 50 Safest Banks for five consecutive years, according to the reference material. In June 2016, NBAD and First Gulf Bank announced plans to combine. Shareholders approved the transaction in December 2016, with the merger structured as a share exchange under which First Gulf Bank shareholders would receive 1.254 NBAD shares for each First Gulf Bank share. The two institutions completed the merger at the end of 2016, with the combined bank subsequently operating as First Abu Dhabi Bank. NBAD therefore ceased to exist as an independent banking brand, while its businesses, people and franchise contributed to the formation of FAB, which became one of the largest banks in the Middle East and North Africa.
History
National Bank of Abu Dhabi was founded in 1968 as the first bank established in the Emirate of Abu Dhabi. Its creation coincided with the development of Abu Dhabi’s modern public institutions and hydrocarbon economy, and the bank became closely associated with the emirate’s government and commercial development. It grew into one of the UAE’s largest lenders and was publicly listed in the country. NBAD pursued international expansion earlier than many UAE financial institutions. In 1975 it opened a branch in Cairo, making Egypt its first overseas market. The bank expanded into Oman and Sudan in 1976, then entered the United Kingdom in 1977 and France and the United States in 1979. Over time, this international network developed into a broad franchise of branches, subsidiaries and representative offices across five continents. Before the merger, NBAD reported a presence in 17 countries and nearly 60 offices outside the UAE. Its footprint included the Gulf states, Egypt, Sudan, Jordan, Switzerland, France, the United Kingdom, the United States, Hong Kong and Malaysia, with representative offices in Shanghai, São Paulo and Beirut. The bank’s international strategy was organized around what it called the West-East Corridor, a broad commercial route linking markets from western Africa through the Middle East and toward Asia. NBAD sought to support cross-border trade, government-related business, multinational companies and institutional clients along this corridor. It established a regional financial base in India in 2015 and considered further growth in Asian markets, including South Korea. The group also maintained operations in Malaysia and Hong Kong. NBAD operated across several banking disciplines. Its activities included retail and commercial banking, corporate and wholesale banking, investment banking, global markets, wealth management, private banking and Islamic finance. The bank’s Islamic offering was delivered through Abu Dhabi National Islamic Finance Company, established in 2008. In 2012, NBAD stated that it intended to substantially increase its Islamic-banking contribution and introduce Sharia-compliant products in Oman and Malaysia. Brokerage, property management and leasing complemented its core banking activities. In 2013, NBAD reorganized its operating model around Global Wholesale, Gulf Retail and Commercial, and Global Wealth. Geographic management divided the franchise between Gulf and international operations. The structure was intended to align the bank’s domestic retail and commercial activities with its cross-border wholesale and wealth businesses. The bank’s ownership reflected its strategic importance in Abu Dhabi. Abu Dhabi Investment Council was the dominant shareholder; reference material states that it owned 70.2 percent in December 2013, while the remainder was held by government-related, corporate and private investors. NBAD’s government connection supported a strong credit profile. In October 2013, Standard & Poor’s upgraded its ratings to AA-/A-1+ and retained a stable outlook. Moody’s, Fitch, Japan’s Rating and Investment Information, and Malaysia’s RAM also assigned high ratings, while Global Finance recognized NBAD among the world’s safest banks for five consecutive years. NBAD was also visible through sponsorship and public-facing activities. It served as the official bank of the Abu Dhabi Formula One Grand Prix from the inaugural 2009 event through the subsequent years cited in the reference material. This association connected the bank with Abu Dhabi’s international positioning and its efforts to promote the emirate as a global business and tourism destination. The final phase of NBAD’s history was defined by its combination with First Gulf Bank. The transaction was first announced in June 2016. Shareholders approved it in December 2016, and the merger used a share-swap structure in which First Gulf Bank shareholders received 1.254 NBAD shares for each First Gulf Bank share. The banks completed the combination at the end of 2016 and formed First Abu Dhabi Bank, which began operating as the successor institution in 2017. NBAD consequently became a defunct standalone bank, while its network, businesses and institutional legacy were incorporated into FAB.
- 2017
First Abu Dhabi Bank becomes successor
[1]The completed combination operated under the First Abu Dhabi Bank name, ending NBAD’s independent existence.
- 2016
Merger with First Gulf Bank approved
[1]Shareholders approved the planned combination with First Gulf Bank through a share-exchange transaction.
- 2015
India financial base established
[1]NBAD created a regional financial base in India to support its overseas growth strategy.
- 2013
Business structure reorganized
[1]The group reorganized its operations into Global Wholesale, Gulf Retail and Commercial, and Global Wealth.
- 2013
Credit ratings upgraded by Standard & Poor’s
[1]Standard & Poor’s raised NBAD’s long- and short-term counterparty ratings to AA-/A-1+ with a stable outlook.
- 2012
Islamic-banking expansion plan announced
[1]NBAD announced plans to increase its Islamic-banking contribution and introduce compliant services in Oman and Malaysia.
- 2009
Abu Dhabi Formula One sponsorship begins
[1]NBAD became the official bank of the Abu Dhabi Grand Prix, beginning with the event’s first staging in the emirate.
- 2008
Islamic-finance subsidiary established
[1]Abu Dhabi National Islamic Finance Company was founded to provide NBAD’s Sharia-compliant banking services.
- 1979
Expansion into France and the United States
[1]The bank entered France and the United States, further extending its presence beyond the Gulf.
- 1977
Entry into the United Kingdom
[1]NBAD opened operations in the United Kingdom as part of its early international expansion.
Products and positioning
A full-service Abu Dhabi banking institution combining a dominant UAE franchise with international wholesale, investment, wealth-management and Islamic-banking capabilities.
Consumer banking
Retail banking
NBAD’s retail franchise served individual customers in the UAE and other markets with conventional personal-banking services. The reference material identifies retail banking as one of the group’s principal lines, although it does not provide a complete historical product catalogue.
Business banking
Corporate and commercial banking
Corporate and commercial banking supported businesses, government-related entities and institutions through the bank’s Gulf franchise. It formed part of the Gulf Retail and Commercial unit created in the 2013 restructuring.
Wholesale banking · 2013
Global wholesale banking
Global Wholesale was one of NBAD’s three principal operating units from 2013. It covered the bank’s large-corporate, institutional, international and capital-markets relationships across the UAE and its overseas network.
Investment banking
Investment banking and global markets
NBAD provided investment-banking and markets capabilities within its wholesale franchise. These activities complemented its corporate, institutional and government-related relationships and supported the bank’s international strategy.
Wealth management · 2013
Global wealth and private banking
Global Wealth served affluent and high-net-worth clients through wealth-management and private-banking activities. It was identified as a dedicated group business unit after the 2013 reorganization.
Islamic finance · 2008
Islamic banking
Sharia-compliant financial services were offered through Abu Dhabi National Islamic Finance Company, established in 2008. NBAD later announced plans to expand this activity in Oman and Malaysia.
Financial and property services
Brokerage, property management and leasing
In addition to banking, NBAD’s business scope included brokerage, property management and leasing. The reference material does not specify individual branded products within these lines.
Marketing campaigns
- 2009Abu Dhabi Formula One Grand Prix official-bank sponsorship
United Arab Emirates · International
NBAD served as the official bank of the Abu Dhabi Formula One Grand Prix from the inaugural 2009 race through the subsequent events cited in the reference material. The sponsorship associated the bank with Abu Dhabi’s international sports, tourism and destination-marketing profile.
Outcome. The bank continued the sponsorship through the 2017 event period, although NBAD itself ceased to operate independently after the merger with First Gulf Bank.
Brand decisions
2016
Combine with First Gulf BankM&ABackground
NBAD and First Gulf Bank announced a proposed combination in June 2016 to create a larger UAE banking institution.
Action taken
Shareholders approved a share-swap merger in December 2016. First Gulf Bank shareholders were to receive 1.254 NBAD shares for each First Gulf Bank share.
Aftermath
The banks completed the combination at the end of 2016 and formed First Abu Dhabi Bank, which became NBAD’s successor and ended the standalone NBAD brand.
Share-exchange consideration. 1.254 NBAD shares per First Gulf Bank share (Merger approved in December 2016)
2015
Establish an India regional financial baseStrategyBackground
NBAD was pursuing growth along its West-East Corridor strategy and sought to deepen its Asian presence.
Action taken
The bank established a regional financial base in India as part of its overseas expansion program.
Aftermath
India became part of NBAD’s international expansion platform, although the reference material does not provide subsequent financial results.
2013
Reorganize the group into three business unitsStrategyBackground
NBAD operated a diverse franchise spanning domestic retail and commercial banking, international wholesale banking, investment services and wealth management.
Action taken
The group organized its business into Global Wholesale, Gulf Retail and Commercial, and Global Wealth, with separate Gulf and international geographic management.
Aftermath
The structure clarified the management of NBAD’s domestic and international businesses until the later merger with First Gulf Bank.
2012
Expand Islamic banking in Oman and MalaysiaStrategyBackground
NBAD sought to increase the contribution of Islamic banking to its overall business while broadening its Gulf and Asian presence.
Action taken
The bank announced plans to introduce Sharia-compliant services in Oman and Malaysia and to substantially increase its Islamic-banking contribution.
Aftermath
The announcement formed part of NBAD’s broader international and product-diversification strategy; the reference material does not quantify the resulting business impact.
Sources2 sources
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