UAE's Largest Bank Said To Cut Hundreds Of Jobs
Sources say First Abu Dhabi Bank is the latest UAE-based lender to shed staff as sluggish growth weighs on the finance industry

First Abu Dhabi Bank has cut hundreds of jobs, according to people with knowledge of the matter, making it the latest UAE-based lender to shed staff as sluggish growth weighs on the finance industry.
The country’s biggest bank dismissed hundreds of employees in recent weeks across several divisions, the people said, asking not to be identified because the matter is private.
First Abu Dhabi Bank, which was created with the merger of two lenders in 2016, has about 5,400 workers globally, according to its website.
A spokeswoman for First Abu Dhabi Bank declined to comment.
The lender joins competitors such as Emirates NBD and Commercial Bank International in cutting jobs.
The UAE economy is coming under pressure from regional geopolitical tensions and weak domestic demand, while business conditions worsened for the first time in over a decade, according to a recent survey. Consolidation between some of the country’s biggest lenders has also led to thousands of cuts.
First Abu Dhabi Bank last month said non-performing loans for last year jumped 17 percent to AED13.5 billion ($3.7 billion) at the end of December, while impairment charges climbed 7 percent to AED1.84 billion.
For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.UAEs Maseera Acquires Egyptian Fintech ADVA
The move marks a critical milestone in Maseera’s regional expansion strategy Read more
Oman Mandates IBAN For Domestic Transfers From July 2025
The move follows the Oman Central Bank's implementation of the IBAN system for international transfers from March 31, 2... Read more
Egypt And Jordan Thank The European Parliament For New Financial Aid
The European Union members recently approved loans worth $4.4 billion in three instalments to Egypt and $555 million to... Read more
Standard Chartereds SC Ventures To Replicate Asia, Africa SME Model In GCC
SC Ventures to bring its successful SME building strategy in India, South East Asia and Africa to GCC, and plans to rol... Read more
UAE Central Bank Revokes Licence Of Dynamics Insurance Brokers For Regulatory Breaches
Dynamics Insurance Brokers "failed to comply with the licensing terms and requirements issued by the Central Bank and w... Read more
Eid Al Fitr Holidays In The GCC; Dubais 100 Most Influential People; UAE Petrol Prices To Change; Royal Baby Announced – 10 Things You Missed This Week
Eid holidays, the Dubai 100, UAE petrol prices, Royal Baby named, Palm Jebel Ali investments and more top news stories ... Read more