First Abu Dhabi Bank – Ratings Affirmed with a Stable Outlook

Ref: AE0 14 2 1 CRA00- 0 1 1 July 202 2

First Abu Dhabi Bank – Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign Curre ncy Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of First Abu Dhabi Bank (FAB) at ‘AA-’ and ‘A1+’ , respectively. At the same time, CI Ratings has affirmed FAB’s Bank Standa lone Ratin g (BSR) of ‘a-’ , Core Financial Strength (CFS) rating of ‘a-’, and Extraordinary Support Level (ESL) of Very High. The Outlook for all ratings is Stable .

The Bank’s LT FCR is set three notches above the BSR to reflect the very high likelihood of extraordinary support from the government in case of need. The UAE government ( s overeign r atings: ‘AA-’/‘A1+’/Stable) has demonstrated its support in the past and , in CI’s view , has the means and willingness to…