After Successfully Opening Branch in Nigeria, UAE’s Biggest Bank Eyes South Africa
- First Abu Dhabi Bank confirmed plans to apply for a banking licence in South Africa, its biggest expansion move on the continent yet
- FAB won a trademark dispute against FirstRand's FNB brand at South Africa's Supreme Court of Appeal, clearing a key legal hurdle
- The Gulf lender's push into Southern Africa comes as HSBC, BNP Paribas and other European banks scale back their African operations
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
First Abu Dhabi Bank (FAB), the largest lender in the United Arab Emirates, has set its sights on South Africa as it intends to apply for a banking licence in Africa's most developed financial market.
In February 2026, the bank opened a representative office in Nigeria.
Source: Getty Images
FAB's move to enter the South African market was confirmed in a trademark dispute that FAB successfully fought against FirstRand, South Africa's biggest bank by market capitalisation, at the country's Supreme Court of Appeal.
BusinessDay South Africa reports that FirstRand had challenged FAB's trademark application, arguing that the "FAB" name bore too close a resemblance to FNB, the retail banking brand operated under the FirstRand group.
The appeal court dismissed the objection and ruled that there was no basis to doubt FAB would satisfy all regulatory requirements, including securing a banking licence, once its trademarks are registered.
FAB argued before the court that it chose to secure trademark protection ahead of a licence application for practical financial reasons, describing any other sequence as putting the cart before the horse.
FAB expands footprint in Africa
The Abu Dhabi-based institution opened a representative office in Lagos in February this year following regulatory approval, establishing its first presence in West Africa. The bank already holds operations in Egypt and Libya, and a South African licence would give it coverage spanning North, West and Southern Africa.
With total assets of approximately $406 billion, FAB is larger than Standard Bank and FirstRand combined, giving it considerable firepower to compete in markets where it chooses to operate.
Source: Getty Images
The timing of FAB's ambitions is notable.
HSBC recently completed a full withdrawal from South Africa, having sold parts of its local business to South African banks.
BNP Paribas, Barclays and Standard Chartered have each reduced their footprint across the continent over the past several years.
The retreat of European institutions has opened space for Gulf-based lenders, whose governments have deepened trade and investment ties with African countries, BusinessDay Nigeria reports.
FAB's expansion strategy appears designed to capture business in trade finance, infrastructure funding, energy, and corporate banking, sectors where demand continues to grow across the continent.
The trademark ruling does not hand FAB an automatic banking licence, but it removes a significant legal obstacle and signals that the lender's South African ambitions are both concrete and progressing.
Nigeria, UAE sign strategic trade agreement
Earlier, Legit.ng reported that Nigeria and the United Arab Emirates (UAE) have signed a Comprehensive Economic Partnership Agreement (CEPA) aimed at strengthening trade and investment between the two countries.
Jumoke Oduwole, Minister of Industry, Trade and Investment, said the agreement focuses on improving market access for Nigerian products and services, attracting quality investment, and supporting the country’s economic diversification under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Source: Legit.ng
