Abu Dhabi: First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has been recognised as the ‘Best Trade Finance Provider in UAE’ at the Bankers Association for Finance and Trade (BAFT) Annual Meeting 2020. FAB received the award at a ceremony in Frankfurt.

The awards recognise finance providers that have delivered excellent trade finance solutions by anticipating evolving trends, helping clients to mitigate risks and to succeed in their international business. FAB delivers bespoke solutions to help clients meet their trade and working capital requirements, increase their supply chain efficiency, mitigate counter party risks, improve working capital, and better manage cash flows and foreign exchange needs associated with trade transactions.

Commenting on the award, Manoj Menon, Head of Global Transaction Banking at First Abu Dhabi Bank, said: “We are delighted to have won this prestigious award and to be recognised as the UAE’s best trade finance provider. It is a testament to the solid transaction banking proposition we have at FAB across Cash Management and Trade, wherein we work closely with our clients in developing bespoke solutions to help them grow stronger.”

Global Finance relies on a multi-tiered assessment process, including input from industry analysts, corporate executives, and technology experts to select the best providers of trade finance. Winners are chosen based on a range of objectives and subjective criteria, including transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.

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About First Abu Dhabi Bank (FAB)

FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.

Headquartered in Abu Dhabi in Khalifa Business Park, the bank’s international network spans five continents, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad.

In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience, and will support the growth ambitions of its stakeholders across countries in which the bank operates.

To empower its customers and clients to Grow Stronger, FAB initiated a powerful movement, which goes beyond banking. The Grow Stronger movement represents the bank’s promise to support its stakeholders’ goals and growth ambitions, providing ideas, tools and expertise to help them become stronger, today and in the future.

With total assets of AED 788 Billion (USD 214 Billion) as of September-end 2019, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Finance as the safest bank in the UAE and the Middle East. The Banker Magazine, has named FAB as the second largest bank in the Middle East by Tier 1 Capital in its Top 1000 World Banks 2019 ranking. FAB is well positioned to unlock the full potential of a unified bank with a strong focus on customer experience, digitisation and continued growth, as we enter the next phase of our journey to grow stronger.

For further information, visit: www.bankfab.com 

© Press Release 2020

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