FAB share deals worth AED13.2 billion in 10 months
FAB share deals worth AED13.2 billion in 10 months
Abu Dhabi - Arab Today
A total of AED13.2 billion worth of purchase and sales transactions in shares of First Abu Dhabi Bank 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 FAB stocks 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.
According to analysts surveyed by WAM, foreign equities are expected to increase during the remaining period of the current year.
FAB reported decent results during the first 9 months of 2017, posting AED8 billion in net profit, with its total assets surging to AED644 billion, a 2 percent growth over the corresponding period last year.
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