Abu Dhabi:First Abu Dhabi Bank (FAB) has announced that its Board of Directors has approved a proposal to raise up to AED15 billion through a strategic rights issue. The move, subject to shareholder and regulatory approvals, is aimed at enhancing the bank's capacity to support growth in the UAE and internationally.

According to Emirates News Agency, the rights issue is intended to maintain FAB's capital strength and financial flexibility, underpinning its medium-term ambitions. FAB has seen a significant increase in total assets and net income since 2020, indicating strong financial performance and expansion of its international presence.

The proposed rights issue will offer new shares at AED13.52 each, a 30 percent discount to FAB's closing share price on ADX as of November 10, 2026. Mubadala Investment Company PJSC, FAB's largest shareholder, plans to subscribe to its full entitlement, demonstrating confidence in the bank's long-term strategy.

The bank is targeting substantial growth between 2026 and 2031, including a 10-15 percent annual increase in loans and revenue. The transaction is expected to conclude in the first quarter of 2027, with further details to be provided through FAB's Investor Relations website. FAB will manage the issue with J.P. Morgan as financial adviser.