In the first nine months of 2024, First Abu Dhabi Bank (FAB) produced strong results. Revenue was 16% higher year over year (YoY) to Dhs23.9 billion due to increasing client engagement across the Group’s franchise, and profit before tax climbed by 15% to Dhs15.3 billion.
The first nine months saw a 4% YoY increase in net profit to Dhs12.9 billion, and the third quarter saw a 5% YoY increase to Dhs4.5 billion. During the first nine months, total assets of Dhs1.2 trillion increased by 5%, while loans and advances increased by 9% to Dhs528 billion and deposits increased by 8% to Dhs820 billion. With revenue increasing 33% in the first nine months and assets in that customer category now, FAB’s global network continued to expand.
The Group’s performance in the first nine months of the year has accelerated due to our dedication to improving customer engagement and expanding relationships across the wholesale banking, personal banking, and wealth management segments. This has led to double-digit growth both locally and across FAB’s international franchise. In support of our strategic goals to grow and diversify our income base, our network continues to be a distinct differentiator for customers and a competitive advantage for the Group.
