Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) achieved a net profit attributable to the shareholders worth AED 10.94 billion in the first nine months (9M) of 2022, up 19% from AED 9.20 billion in 9M-21.

FAB’s operating income amounted to AED 14.92 billion in the January-September 2022 period, an annual surge from AED 15.98 billion, according to the bank’s financial results.

Basic and diluted earnings per share (EPS) stood at AED 0.96 in 9M-22, higher than AED 0.81 in 9M-21.

The bank’s assets totalled AED 1.14 trillion in 9M-22, versus AED 1 trillion as on 31 December 2021.

During the third quarter (Q3) of 2022, the net profits attributable to the equityholders of FAB plunged to AED 2.92 billion from SAR 3.85 billion, while the basic and diluted EPS plummeted to AED 0.25 from SAR 0.34 in Q3-21.

Furthermore, the operating income dropped to AED 5.49 billion in Q3-22 from AED 6.41 billion in Q3-21.

Hana Al Rostamani, Group CEO of FAB, stated: “Our robust balance sheet fundamentals are enabling us to pursue our growth and transformation journey, both, regionally and in the UAE.”

Al Rostamani added: “In Egypt, we have completed our integration activities which will enable us to unlock new opportunities for our growing base in one of our priority markets.”

In the first half (H1) of 2022, the UAE-based lender witnessed a 50% YoY hike in net profit to AED 8.03 billion from AED 5.35 billion.