First Abu Dhabi Bank (FAB) has announced 50% dividend to its share holders in United Arab Emirates. The FAB has created a huge record by breaking its own estimation of profit in the fourth quarter. The bank has achieved a high level growth in the year 2023.
The First Abu Dhabi Bank has been working hard to meet the needs of its customers. In addition, the bank management has high achievement goals for each quarter. The goals of FAB Bank include more business, more branches, more services and higher profits.
FAB Bank Made Record-Break Profit in 4th Quarter
In the fourth quarter of 2023, the First Abu Dhabi Bank showed 63 percent increase in its net income. The FAB earned AED 4.01 billion profit in the fourth quarter which was 17 percent higher than the fourth quarter of previous year 2022.
The First Abu Dhabi Bank is growing in various sectors. It has earned total net profit of AED 16.4 billion in the whole year of 2023. Compared to previous year 2022, the net profit is increased by 56 percent which was neither proposed nor estimated by the FAB management.
FAB Says, “Not Evaluating Any Offer for StanChart!”
In second week of February, First Abu Dhabi Bank released a press note about an awaiting news about Standard Chartered. The FAB declared that it was thinking to offer a bid for StanChart for sometime but has no intention to give any offer currently.
After FAB’s announcement, the Standard Chartered Shares price increased by 11% in the market. The First Abu Dhabi Bank was going to buy Standard Chartered with a bid between $30 and $35 billion. But the FAB has postponed this plan for a while and StanChart Shares rocked the stock market after this news came out.
FAB SlicePay BNPL Card Launched
The First Abu Dhabi Bank has launched a new credit card with SlicePay in UAE. The card offers buy now pay later (BNPL) service to the card holder. The SlicePay BNPL Card is powered by MasterCard and it is available for all eligible residents in United Arab Emirates.
The SlicePay BNPL Card allows customers to split their purchases of AED 100 or more into four equal installments. The First Abu Dhabi Bank Customers can apply and get the SlicePay Card for free without any joining fee or monthly/annual fee. Other bank customers need to pay the annual fee of AED 99.
The customers can split their purchases into small EMIs and repay them without any interest or additional charge. The SlicePay BNPL Card is available for UAE residents with a minimum income of AED 5000 per month.
The SlicePay card limit is determined by the FAB Card Department based on customer’s credit score and repayment history. Once assigned, the card limit cannot be changed by the customer. The maximum transaction limit per month is 20, so the customer can do up to 20 payments/purchases using the SlicePay BNPL Card in a month.
FAB Balance Inquiry and Account Statement
The First Abu Dhabi Bank offers a variety of bank accounts, debit cards, prepaid cards, credit cards and other banking products in UAE. The customers with a savings account with FAB can use FAB Balance Check service to get their account balance details.
The FAB provides several online and offline methods for FAB Balance Inquiry for its customers. Whether you have a savings account or current account or a prepaid/salary card, you can do an online inquiry to Check FAB Balance and View Account Statement for free.
FAB Account Balance Inquiry
The FAB customers in UAE can check their bank balance through various online and offline methods. For every customer, it is important to keep track of account balance to manage their financial expenses and needs. The FAB Bank offers free balance inquiry and transaction history for all customers.
If you have a bank account with First Abu Dhabi Bank, you can check your FAB Balance online with the steps mentioned below.
- Go to FAB official website @www.bankfab.com.
- Select Login section and click on Personal Online Banking (UAE).
- Enter your Username & Password, then click on Login button.
- Find and Click on My Account section.
- Select Check Balance or View Balance option.
- Your FAB Balance will appear on your screen.
- You can also check the Transaction History to know your recent payments & receipts.
Quick FAB Balance Inquiry by SMS
The FAB balance check by SMS service is available for all account holders. If your mobile number is linked to your bank account then you can check your FAB account balance by SMS anytime, anywhere in the United Arab Emirates.
Type a New Message as BAL and Send It to 2121
As you send the SMS in above format, you will receive your FAB Balance by SMS on your registered mobile number. If you have any locked or ceased balance, it will appear in the SMS received from First Abu Dhabi Bank.
FAB Ratibi Salary Card Balance Check
The Ratibi Card is a salary card offered to expat workers by First Abu Dhabi Bank. The employees do not need to open a bank account or maintain any minimum balance. They can enjoy all banking services by using a Ratibi Prepaid Card from FAB.
If you have a Ratibi Card then you must check if your salary is credited to your card. The FAB provides an easy Ratibi Card Balance Inquiry Service on its website. The card holders do not need to register or login to check their Ratibi Prepaid Card Balance. Just follow the steps given below.
- Go to FAB Prepaid Card Balance Inquiry Page.
- Enter last two digits of your Ratibi Card Number.
- Enter your Ratibi Card ID.
- Click on Go button.
- Your FAB Ratibi Card Balance will appear on page.
In this way, you can check your FAB Balance for savings account, current account, prepaid/salary card and others.
Conclusion
The First Abu Dhabi Bank is known for its easy to access banking services through various channels. It offers everything the customers need and expectations in their day-to-day financial transactions. The FAB recently announced 50% dividend to delight its share holders after making an unexpected profit in last quarter of 2023.
Also published on Medium.
