Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) recorded net profits valued at AED 12.89 billion in the first nine months (9M) of 2024, higher than AED 12.41 billion in 9M-23.
The lender posted 16% higher operating income at AED 23.92 billion in the January-September 2024 period, versus AED 20.53 billion in 9M-23, according to the unaudited financial results.
Basic and diluted earnings per share (EPS) increased to AED 1.10 in 9M-24 from AED 1.07 in 9M-23.
The total assets amounted to AED 1.22 trillion at the end of September 2024, compared to AED 1.16 trillion as of 31 December 2023.
Financial Statements for Q3
In the third quarter (Q3) of 2024, FAB generated net profits valued at AED 4.46 billion, compared to AED 4.25 billion as of 30 September 2023.
The operating income climbed to AED 8.19 billion in the three-month period that ended on 30 September 2024 from AED 6.97 billion in Q3-23, while the basic and diluted EPS went up to AED 0.38 from AED 0.36
Hana Al Rostamani, Group CEO of FAB, commented: “The growth in our total assets to AED 1.20 trillion highlights the key role FAB plays, as the region’s international financial powerhouse, in supporting the ambitions of our clients as they invest for the future.”
“So does our further progress in facilitating sustainable and transition financing projects, with the total now standing at AED 216 billion, or 43% of our 2030 target of AED 500 billion,” Al Rostamani continued.
In the first half (H1) of 2024, FAB posted 3% year-on-year (YoY) higher net profits after tax at AED 8.40 billion, compared to AED 8.14 billion.
