The Differences Between FAB, NOL, and NBAD

Banking and financial institutions play an important role in the economy of any country. Various financial institutions in the United Arab Emirates (UAE) provide excellent banking services to the public. Some of the prominent institutions are FAB, NOL, and NBAD.

All these three organizations are known for their features and services, but some basic differences between them are important for consumers to know. In this article, we will explain the differences between these three institutions in detail so that you can better understand which institution is best suited to meet your financial needs.

FAB, NOL, and NBAD Comparison

Feature	FAB (First Abu Dhabi Bank)	NOL (National Online Banking License)	NBAD (National Bank of Abu Dhabi)
Founded	2017 (merger of NBAD and FGB)	Recent initiative	1968
Banking Model	Traditional and Digital	Fully Digital	Traditional
Global Presence	Extensive international branches	Focused on UAE and digital services	International branches before merger
Services	Comprehensive banking (Personal, Corporate, Investment, Islamic)	Digital-only banking services	Comprehensive banking (Personal, Corporate, Islamic)
Target Audience	Individuals, Corporates, Investors	Digital-savvy individuals	Individuals, Corporates
Innovation	Strong in digital banking innovation	Built on a modern banking platform	Prestigious and historic brand before the merger
Brand Reputation	Well-established, leading bank in UAE	Emerging digital brand	Well-established, leading bank in the UAE
Cost	Competitive	Lower costs due to digital infrastructure	Standard banking fees
Availability	Branches and online	24/7 online banking	Branches and online (now under FAB)
Islamic Banking	Available	Not specifically focused	Available (under FAB)

What is FAB (First Abu Dhabi Bank)?

First Abu Dhabi Bank, commonly referred to as FAB, is the largest bank in the UAE formed in 2017 through the merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB).

FAB provides global banking and financial services and is prominent in the UAE as well as internationally. FAB’s services include personal banking, corporate banking, investment banking, and Islamic banking. FAB is known for its cutting-edge banking services and advances in digital banking.

FAB Features:

1. GLOBAL PRESENCE: FAB has branches in various countries across the world making it internationally significant.
2. Comprehensive Services: FAB’s services include all aspects of banking, such as corporate, personal, and investment banking.
3. DIGITAL BANKING: FAB is known for pioneering digital banking, providing customers with a convenient and innovative banking experience.
4. Islamic Banking: FAB also provides banking services per Islamic principles, which meet the standards of Islamic banking.

What is NOL (National Online Banking License)?

NOL is a new and innovative banking license in the UAE dedicated to digital banking.

NOL aims to promote digital banking and provide online banking facilities to customers. This license marks the beginning of a new era of digital banking in the UAE, where all banking services are provided online.

Features of NOL:

1. Complete Digital Banking: The main objective of NOL is to provide fully digital banking services.
2. Modern Banking Platform: NOL is based on a modern banking platform that provides all online banking facilities to customers.
3. Low Cost: NOL services are provided at a lower cost than normal banking as its entire infrastructure is online.
4. 24/7 Services: NOL’s banking services are available round the clock, allowing customers to bank anytime and anywhere.

What is NBAD (National Bank of Abu Dhabi)?

NBAD, now part of FAB, was one of the oldest and most respected banks in the UAE established in 1968.

NBAD was the first national bank in the UAE and was known for its excellent banking quality and services. NBAD merged with FGB to become part of FAB, but NBAD’s brand and services were retained under FAB.

NBAD Features:

1. Antiquity and Experience: NBAD was the oldest bank in UAE and had deep experience in the banking sector.
2. Reputable Brand: NBAD’s brand was considered credible and reliable in the UAE.
3. Wide Services: NBAD provides a wide range of banking services, including personal, corporate, and Islamic banking.
4. International Relations: NBAD had international relations and branches outside the UAE, making it a global bank.

Difference between FAB, NOL, and NBAD:

Some important differences between FAB, NOL, and NBAD are as follows:

1. Foundation and History: FAB and NBAD have an ancient background while NOL is a new and modern banking license.
2. Banking Model: Both FAB and NBAD are based on the traditional banking model, while NOL is completely focused on digital banking.
3. Extent of Services: The services of FAB and NBAD are comprehensive and cover all aspects of banking, while NOL focuses exclusively on online banking.
4. International Presence: FAB and NBAD have an international presence, while NOL’s focus is only on digital banking.

Conclusion

FAB, NOL, and NBAD are three major UAE banking institutions that provide different features and services. FAB and NBAD have a long history and experience, while NOL represents the new era of digital banking. Customers should choose among these institutions according to their financial needs.