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FAB sees 7% YoY growth in 2022 profits; dividends proposed

FAB sees 7% YoY growth in 2022 profits; dividends proposed
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-1.03% 13.48 -0.14

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) posted net profits to the owners worth AED 13.41 billion in 2022, witnessing an annual rise of 7% from AED 12.53 billion.

The basic and diluted earnings per share (EPS) went up to AED 1.18 in 2022 from AED 1.10 in 2021, according to the income statements.

FAB’s operating income, meanwhile, declined by 4% year-on-year (YoY) to AED 20.84 billion in 2022 from AED 21.68 billion.

The total assets reached AED 1.11 trillion at the end of 2022, marking an 11% YoY jump from AED 1 trillion.

The customer deposits also leaped by 14% on an annual basis to hit AED 701 billion in 2022 from AED 615 billion.

Fourth Quarter (Q4) of 2022

In Q4-22, the UAE lender FAB posted net profits worth AED 2.46 billion, a plunge of 26% from AED 3.32 billion in Q4-21. In addition, the basic and diluted EPS amounted to AED 0.22, lower than AED 0.30.

The operating income, meanwhile, increased by 4% YoY to AED 5.91 billion in Q4-22 from AED 5.69 billion.


The board members of FAB suggested a cash dividend of AED 0.52 per share, at a total value accounting for 52% of the paid-up capital, for 2022.

In the first nine months (9M) of 2022, the lender recorded net profits attributable to the shareholders worth AED 10.94 billion, compared to AED 9.20 billion in 9M-21.

The assets stood at AED 1.14 trillion in 9M-22, compared with AED 1 trillion as on 31 December 2021.