The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
A total of AED13.2 billion worth of purchase and sales transactions in shares of First Abu Dhabi Bank (FAB) have been conducted since the merger of the National Bank of Abu Dhabi and First Gulf Bank in April 2017 to create one of
the region’s largest banking entities.
FAB deals accounted for 17.3 percent of total transactions recorded on the Abu Dhabi Securities Exchange (ADX), during the first 10 months of 2017.
Up to 1.2 billion shares with a market value of AED12.43 billion were traded in the capital’s bourse by the end of October, according to ADX figures. FAB share capital stood at 10.897 billion, with non-Arab foreign stocks accounting 9.05 percent thereof, while GCC investors own 1.42 percent and Arabs 0.50 percent.
FAB reported decent results during the first 9 months of 2017, posting AED8 billion in net profit.