Abu Dhabi: First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has published its 2020 Global Investment Outlook Report, ‘Shaping tomorrow, today’. The report, written by the bank’s industry experts, examines the current global economic and investment environment, providing insights into key macro-economic trends.

According to the report, FAB is expecting growth in 2020 for the UAE. The International Monetary Fund (IMF) forecasts that the country will grow 2.5% in 2020, a significant acceleration compared to the 1.6% the institution estimated for 2019. Much of that will be driven by growth outside the energy sector, as the IMF expects non-oil growth to accelerate to 3% in 2020 from 1.6% last year, driven by the World Expo 2020 and government growth initiatives.

FAB also expects global growth thanks to multiplier effects and as government spending picks up. In fact, one of the latest-debated risks is the global acceleration in inflation. Consumer prices have lingered in the past decade, partly as a result of technological advances that have increased productivity and reduced some of the costs associated with intermediaries. The combination of monetary and fiscal policy acting together could shift the inflation dial globally.

Alain Marckus, Managing Director and Head of Investment Strategy and Investment Management –Elite and Private Banking, said: “The combination of improving global growth, alongside very low interest rates around the world, should continue to see risks assets do well in 2020. Ongoing global central bank accommodation also should see the emerging markets do well. The economic “long cycle” continues to be extended with opportunities available in value and income strategies, which we think will be the outperformers.”

FAB’s Global Investment Outlook 2020 can be viewed and downloaded here.

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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 

For media inquiries, please contact:
Mira Assaf
Weber Shandwick MENA
Phone: + 971 50 3123518
Fax: + 971 2 449 4833
Email:  Massaf@webershandwick.com   

Talal Natafji
Weber Shandwick MENA
Phone: + 971 50 9010077
Fax: + 971 2 449 4833
Email:  Tnatafji@webershandwick.com 

© Press Release 2020

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