UAE's First Abu Dhabi Bank to pay Dh175 back to customers following error

Dubai: The UAE’s First Abu Dhabi Bank (FAB) will be repaying a number of its customers for wrongly charging them interest fees in the past few days.

Some banking customers have recently taken to social media to complain that the country’s largest bank deducted a Dh175 fee from their accounts.

Contacted by Gulf News, the bank confirmed the gaffe, which was due to a "system issue," and assured that all affected customers will be repaid with the exact amount.

“We identified that some First Abu Dhabi Bank customers were incorrectly charged interest,” the bank’s spokesperson said.

“The charges will be reversed. We will contact all customers that were affected and regret any inconvenience this may have caused them.”

The bank had reported a 16 per cent jump in its net profits for the third quarter of 2018. Its profits touched 3.02 billion, up from Dh2.6 billion in the third quarter of 2017.

FAB was established through a merger of the National Bank of Abu Dhabi and First Gulf Bank in April 2017.