Latest news with #HanaAlRostamani
Arabian Post
3 days ago
- Business
- Arabian Post
FAB Share Sale Draws Strong Demand Amid Strategic Expansion
Arabian Post Staff -Dubai First Abu Dhabi Bank , the largest lender in the United Arab Emirates by assets, is set to raise approximately $480 million through a secondary share offering. The transaction involves the sale of around 113 million shares at a fixed price of 15.5 dirhams per share, representing a 3.7% discount to the bank's closing price of 16.1 dirhams on the Abu Dhabi Securities Exchange. Citi, acting as the bookrunner, confirmed that the offering was fully subscribed, with demand surpassing the number of shares available. The identity of the selling shareholder remains undisclosed. FAB's largest stakeholder is Mubadala Investment Company, Abu Dhabi's sovereign wealth fund, which manages assets exceeding $330 billion. As of the end of March, FAB reported total assets of 1.31 trillion dirhams, underscoring its dominant position in the region's banking sector. ADVERTISEMENT The oversubscription of the share sale indicates robust investor confidence in FAB's financial health and strategic direction. The bank has been actively pursuing growth opportunities beyond the Gulf region. Two years ago, FAB explored a potential acquisition of London-listed Standard Chartered, signaling its ambition to expand its international footprint. Under the leadership of Group CEO Hana Al Rostamani since 2021, FAB has undergone significant restructuring to enhance operational efficiency and shareholder returns. The bank reorganized its operations into four new divisions and appointed Linos Lekkas, a veteran from Citi, as the head of its investment banking division. This strategic realignment aims to strengthen FAB's position in the Gulf and support its expansion plans. FAB's strong financial performance further bolsters investor sentiment. In the first quarter, the bank reported a 23% increase in net profit, driven by growth in non-interest income from fees and commissions. This performance exceeded analysts' expectations and reflects the bank's diversified revenue streams and effective cost management.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
First Abu Dhabi Bank CEO ranked most powerful businesswoman in GCC
Hana Al Rostamani, Group CEO at First Abu Dhabi Bank, has been ranked as the most powerful woman in business in the GCC, according to Fortune magazine's latest list. Along with Al Rostamani, who is ranked 76th on the global list, Shaikha Al-Bahar, Deputy Group Chief Executive Officer at National Bank of Kuwait, ranked 92nd. The duo feature in Fortune's 2025 edition of the Most Powerful Women in Business list. The 28th edition of the list honours 100 female leaders from the global business landscape — spotlighting those who hold power now and those on the rise to even greater influence. This year's iteration features 52 women from the US and 48 from other countries — eight from China; seven each from France and the UK; three each from Germany, Singapore, and Brazil; two each from Australia, Hong Kong, Japan, and Spain, and one each from the UAE and Kuwait. As the Group CEO of the UAE's largest lender – a bank with roughly $330 billion in assets – Al Rostamani is currently the only female chief executive of a publicly listed corporation in the UAE. She serves on several boards, including the Institute of International Finance, the US-UAE Business Council, and Buna, the Arab Monetary Fund's cross-border payment system. Al-Bahar was named Deputy Group CEO of the National Bank of Kuwait in 2014 after joining the institution in 1977. She is chair of the National Bank of Kuwait-France and the National Bank of Kuwait-Egypt as well as a board member with National Bank of Kuwait (International), the bank's UK subsidiary. Al-Bahar is credited with launching NBK RISE, a programme designed to empower women leaders and prepare them for senior leadership roles. With over $135 billion in total assets at the end of March 2025, the National Bank of Kuwait is one of the largest financial institutions in the country and one of the leading banks in the region. The list, compiled by Fortune editors is based on company size and health, as well as an executive's career trajectory, influence, innovation, and efforts to make business better. More than 50 women currently lead Fortune 500 companies, yet only 20 made this year's list — a testament to how increasingly competitive the ranking has become. 'In its 28th year, this iconic list of powerful women includes almost half from outside of the US, reminding us that the impact of women is being seen globally,' said Alyson Shontell, Fortune editor in chief and chief content officer. 'These are women transforming business today and preparing for a future during a time of tumult and uncertainty.' There are 16 newcomers, including Costco's chief operator and merchant Claudine Adamo (No. 43), helping millions of Americans navigate inflation by keeping prices low on essentials, and next-gen execs such as Julie Gao, CFO of ByteDance (No. 81), steering the TikTok owner's finances through its tangles with the US government. The top 10 Most Powerful Women in Business 2025 are: 1. Mary Barra, Chair and CEO, GM (US) 2. Julie Sweet, Chair and CEO, Accenture (US) 3. Jane Fraser, CEO, Citigroup (US) 4. Lisa Su, Chair and CEO, AMD (US) 5. Ana Botín, Executive Chairman, Banco Santander (Spain) 6. Tan Su Shan, Deputy CEO and Group Head of Institutional Banking, DBS Group (Singapore) 7. Thasunda Brown Duckett, President and CEO, TIAA (US) 8. Marta Ortega, Chairperson, Inditex (Spain) 9. Abigail Johnson, Chairman and CEO, Fidelity Investments (US) 10. Meng Wanzhou, Deputy Chairwoman, Rotating Chairwoman, and CFO, Huawei (China) 'This definitive ranking of the women at the top of the global business world…tells us both who wields power today and who is poised to climb even higher tomorrow,' writes Emma Hinchliffe, Fortune senior writer, author of Most Powerful Women Daily newsletter, and editor of the 100 Most Powerful Women in Business list of 2025.
Arab News
20-05-2025
- Business
- Arab News
Fortune reveals 100 Most Powerful Women in Business list for 2025
DUBAI: Fortune has announced the 2025 Most Powerful Women in Business list, featuring 100 leading businesswomen from sectors including finance, tech, healthcare, telecom, retail and energy. Its publication coincides with Fortune's inaugural Most Powerful Women International conference which is taking place in Riyadh on May 20-21. This year's edition of the list features 51 women from the US and 49 from other countries, including one each from the UAE and Kuwait. Hana Al-Rostamani, group CEO of First Abu Dhabi Bank, comes in at No. 76. She is currently the only female chief executive of a publicly listed corporation in the UAE, and serves on several boards, including the Institute of International Finance, the US-UAE Business Council, and the Arab Monetary Fund's cross-border payment system Buna. Shaikha Al-Bahar, deputy group CEO at the National Bank of Kuwait, features at No. 92. She has risen through the ranks since joining the bank in 1977 and was appointed to her current role in 2014. Al-Bahar is the only woman on NBK's executive management team. She is also chair of the National Bank of Kuwait France, and the National Bank of Kuwait Egypt, as well as a board member of the bank's UK subsidiary. 'The rise of women as CEOs is continuing, which is great,' said Alyson Shontell, editor-in-chief and chief content officer of Fortune. She told Arab News: 'There have been some years we've been doing the list where it has taken a step back. (But) this year, 11 percent of Fortune 500 (companies are) run by women, and that's the highest it has ever been.' There are several studies showing the correlation between 'diversity of thought and background' in leadership ranks and the financial outcome of a company, and so, 'we track it, and we track the progress (in) the hopes of making business better,' Shontell added. Mary Barra, CEO of @GM and No.1 on the 2025 #FortuneMPW list, shares what power means to her. — FORTUNE (@FortuneMagazine) May 20, 2025 The top 10 Most Powerful Women in Business 2025 are: 1. Mary Barra, chair and CEO, General Motors. 2. Julie Sweet, chair and CEO, Accenture. 3. Jane Fraser, CEO, Citigroup. 4. Lisa Su, chair and CEO, AMD. 5. Ana Botin, executive chairman, Banco Santander. 6. Tan Su Shan, deputy CEO and group head of institutional banking, DBS Group. 7. Thasunda Brown Duckett, president and CEO, TIAA. 8. Marta Ortega, chairperson, Inditex. 9. Abigail Johnson, chairman and CEO, Fidelity Investments. 10. Meng Wanzhou, deputy chairwoman, rotating chairwoman, and chief financial officer, Huawei. Compiled by Fortune editors, the list is based on several factors such as company size and health, as well as an executive's career trajectory, influence, innovation, and efforts to make business better. The full list can be found here.
Mid East Info
20-05-2025
- Business
- Mid East Info
Two GCC Finance Leaders Make Fortune 2025 100 Most Powerful Women in Business List - Middle East Business News and Information
Hana Al Rostamani, Group CEO at First Abu Dhabi Bank and Shaikha Al-Bahar, Deputy Group Chief Executive Officer at National Bank of Kuwait, named among world's leading businesswomen. Announcement coincides with the inaugural Fortune Most Powerful Women International Summit in Riyadh, Saudi Arabia- Fortune's first international summit in the region. NEW YORK, May 20, 2025—Two of the GCC's most influential banking executives are featured in Fortune's 2025 edition of the Most Powerful Women in Business list. The 28th edition of the list honors 100 female leaders from the global business landscape—spotlighting those who hold power now and those on the rise to even greater influence. This year's iteration features 52 women from the U.S. and 48 from other countries—8 from China; 7 each from France and the U.K.; 3 each from Germany, Singapore, and Brazil; and 2 each from Australia, Hong Kong, Japan, and Spain, and one each from Kuwait and United Arab Emirates. Hana Al Rostamani, Group CEO at First Abu Dhabi Bank, and Shaikha Al-Bahar, Deputy Group Chief Executive Officer at National Bank of Kuwait, are ranked 76th and 92nd, respectively. As the Group CEO of the UAE's largest lender – a bank with roughly $330 billion in assets – Al Rostamani is currently the only female chief executive of a publicly listed corporation in the Emirates. She serves on several boards, including the Institute of International Finance, the U.S.-U.A.E. Business Council, and Buna, the Arab Monetary Fund's cross-border payment system. Al-Bahar was named Deputy Group CEO of the National Bank of Kuwait in 2014 after joining the institution in 1977. She is chair of the National Bank of Kuwait-France and the National Bank of Kuwait-Egypt as well as a board member with National Bank of Kuwait (International), the bank's UK subsidiary. Al-Bahar is credited with launching NBK RISE, a program designed to empower women leaders and prepare them for senior leadership roles. With over $135 billion in total assets at the end of March 2025, the National Bank of Kuwait is one of the largest financial institutions in the country and one of the leading banks in the region. In fiscal 2024, the bank's net profit rose 7% year-over-year to $1.9 billion while net operating income grew 7.2% to $4.1 billion. The list, compiled by Fortune editors is based on company size and health, as well as an executive's career trajectory, influence, innovation, and efforts to make business better. More than 50 women currently lead Fortune 500 companies, yet only 20 made this year's list—a testament to how increasingly competitive the ranking has become. 'In its 28th year, this iconic list of powerful women includes almost half from outside of the U.S., reminding us that the impact of women is being seen globally,' said Alyson Shontell, Fortune Editor in Chief and Chief Content Officer. 'These are women transforming business today and preparing for a future during a time of tumult and uncertainty.' There are 16 newcomers, including Costco's chief operator and merchant Claudine Adamo (No. 43), helping millions of Americans navigate inflation by keeping prices low on essentials, and next-gen execs such as Julie Gao, CFO of ByteDance (No. 81), steering the TikTok owner's finances through its tangles with the U.S. government. The top 10 Most Powerful Women in Business 2025 are: Mary Barra, Chair and CEO, GM (U.S.) Julie Sweet, Chair and CEO, Accenture (U.S.) Jane Fraser, CEO, Citigroup (U.S.) Lisa Su, Chair and CEO, AMD (U.S.) Ana Botín, Executive Chairman, Banco Santander (Spain) Tan Su Shan, Deputy CEO and Group Head of Institutional Banking, DBS Group (Singapore) Thasunda Brown Duckett, President and CEO, TIAA (U.S.) Marta Ortega, Chairperson, Inditex (Spain) Abigail Johnson, Chairman and CEO, Fidelity Investments (U.S.) Meng Wanzhou, Deputy Chairwoman, Rotating Chairwoman, and CFO, Huawei (China) 'This definitive ranking of the women at the top of the global business world…tells us both who wields power today and who is poised to climb even higher tomorrow,' writes Emma Hinchliffe, Fortune senior writer, author of Most Powerful Women Daily newsletter, and editor of the 100 Most Powerful Women in Business list of 2025. Today's MPW 100 list debut coincides with the inaugural Fortune Most Powerful Women International Summit in Riyadh, Saudi Arabia — Fortune's first international summit in the region. About Fortune: Fortune is a global multi-platform media company built on a legacy of trusted, award-winning reporting and information for those who want to make business better. Independently owned, Fortune tells the stories of the world's biggest companies and their leaders as well as a new generation of innovators who are moving business forward. Digitally and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum and Brainstorm Tech.
Arabian Business
29-04-2025
- Business
- Arabian Business
First Abu Dhabi Bank powers ahead with record Q1 numbers
First Abu Dhabi Bank (FAB), the largest bank in the UAE, delivered record results for the first quarter of 2025. Net profit shot up 23 per cent year-on-year (YoY) to AED5.13 billion (US$1.4 billion), and profit before tax reached AED6.13 billion (US$1.67 billion), up 22 per cent compared to the same quarter last year. Group revenue was up 11 per cent at AED8.81 billion (US$2.4 billion), with double-digit growth in all segments and supported by 22 per cent growth in non-interest income (NII). Strong Q1 for First Abu Dhabi Bank The bank's diversification strategy was reflected by NII contributing 43 per cent to the group revenue. Loans and deposits grew 8 per cent and 4 per cent YoY, respectively, with total assets growing 6 per cent and crossing AED1.3 trillion for the first time. Net Interest Margin grew 4 bps quarter-on-quarter (QoQ) to 1.97 per cent. The cost-to-income ratio improved to 22.3 per cent, from 24.0 per cent in Q1'24. Return on Tangible Equity (RoTE) improved from 17.4 per cent in Q1 2024 to 20.4 per cent, which is in line with the bank's medium-term target of greater than 16 per cent. Hana Al Rostamani, Group Chief Executive Officer of First Abu Dhabi Bank, praised the bank's performance and said it is well-positioned to sustain its momentum, expand its scale, and continue delivering long-term value to shareholders and stakeholders. Al Rostamani commented: 'FAB delivered a strong performance in the first quarter of 2025, achieving an operating income of AED8.81 billion and a net profit of AED5.13 billion for the group, supported by sustained growth momentum across our business segments and our international franchise. 'We continue to execute on our strategic priorities capitalising on the growth of the UAE economy and across the international footprint. 'Our return on tangible equity increased to 20.4 per cent and remains consistently focused on value creation across the cycle. The bank remains well-capitalised, with a strong liquidity and asset quality supporting our long-term resilience. 'We will continue to leverage our strengths to drive innovation and customer experience and remain focused on delivering value to our clients and strong, sustainable returns to our shareholders.' Among First Abu Dhabi Bank's businesses, most divisions notched double-digit growth. Investment Banking & Markets revenue grew 15 per cent YoY and 22 per cent QoQ. Equity Capital Markets and Debt Capital Markets franchises helped clients raise US$29 billion in Q1'25, up 56 per cent YoY. Wholesale Banking revenue grew 12 per cent YoY on the back of strong activity and business momentum across client franchise. Loans and deposits were up 13 per cent and 18 per cent YoY. Personal, Business, Wealth and Privileged Client Banking Group revenue was up 11 per cent YoY and 7 per cent QoQ, driven by strong retail momentum, customer acquisitions, and enhanced customer experience. The international franchise saw significant balance sheet growth, with loans and deposits up 19 per cent and 13 per cent YoY respectively. Lars Kramer, Group Chief Financial Officer of First Abu Dhabi Bank, added: 'In the first quarter of 2025, FAB delivered very strong financial performance and returns, with operating income growing 11 per cent to AED8.81 billion, largely offsetting the impact of the increase in UAE corporate tax during the period. 'Strong commercial momentum, resilient margins, robust fee and trading performances and enhanced revenue from flow products, all contributed to this strong set of results. 'With the strongest combined credit rating among any other bank in MENA (of AA- or equivalent), FAB continues to operate from a relative position of strength.' Customer deposits grew 4 per cent YoY and 7 per cent year to date to AED839 billion (AED228.45 billion) from sizeable inflows across both wholesale and retail. Current Account Savings Account (CASA) balances grew 10 per cent YoY, reaching AED376 billion (US$102.4 billion), or 45 per cent of total group deposits.
