Abu Dhabi – Mubasher: The net profits of First Abu Dhabi Bank (FAB) increased by 4% year-on-year (YoY) to AED 17.09 billion in 2024 from AED 16.51 billion.
Operating income grew by 15% to AED 31.62 billion as of 31 December 2024, compared to AED 27.47 billion in 2023, according to the financial results.
Basic and diluted earnings per share (EPS) increased to AED 1.48 last year from AED 1.43 in 2023.
Total assets amounted to AED 1.21 trillion last year, marking a 15% rise from AED 1.16 trillion in the January-December 2023 period.
In the fourth quarter (Q4) of 2024, the net profits climbed by 4% YoY to AED 4.20 billion, while the revenue jumped by 11% YoY to AED 7.70 billion.
Tahnoon bin Zayed Al Nahyan, Chairman of FAB, said: “FAB remains committed to creating sustained value for our shareholders. Our board of directors recommends a cash dividend of 75 fils per share for 2024, representing a total dividend payout of AED 8.30 billion.”
The dividend proposal is subject to shareholder approval at the bank’s annual general meeting scheduled to be held on 11 March 2025.
As of 30 September 2024, FAB logged net profits valued at AED 12.89 billion, an annual rise from AED 12.41 billion.
