UAE - Mubasher: The net profits attributable to the shareholders of First Abu Dhabi Bank (FAB) increased to AED 5.353 billion during the first half (H1) of 2021, up 11% from AED 4.819 billion in the same half of 2020, according to the bank's consolidated interim financials for the six-month period ended 30 June 2021.
The bank's net interest income decreased by 13% to AED 5.482 billion in the first six months of 2021 from AED 6.323 billion in the year-ago period.
Meanwhile, the bank reported a 2% increase in operating income to AED 9.574 billion in the January-June period of 2021 from AED 9.361 billion in the corresponding period of 2020.
The basic and diluted earnings per share (EPS) settled at AED 0.47 each in H1-21, against AED 0.42 in H1-20.
During the second quarter (Q2) of 2021, the bank's net profits rose to AED 2.878 billion from AED 2.411 billion in the same quarter of 2020.
The CEO of FAB, Hana Al Rostamani, said: "In Corporate & Investment Banking (CIB), we continued to support and partner with our clients in navigating the gradual economic recovery and focused on driving specialisation in key areas, particularly investment banking, leading to a double-digit growth in revenue."
