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The brand value of First Abu Dhabi Bank, the merged entity of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), increased to AED14.7 billion in the first three months of 2017, up from AED13.9 billion by the end of 2016, new financial data released by the bank for the first quarter of the year show.
Following the merger on 1st April, the newly-created banking entity's assets increased by AED12 billion in Q1 2017 to AED682.4 billion compared to AED670.5 billion by the end of 2016.
On 24th April, shareholders of NBAD on Monday approved the proposal to rename the bank to First Abu Dhabi Bank.
The newly-branded entity becomes the biggest lender in the region in terms of its assets.
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