First Abu Dhabi Bank (FAB), the United Arab Emirates' largest lender by assets, posted a 6% increase in net profit for the third quarter, reaching 5.74 billion UAE dirhams ($1.56 billion) compared to 5.39 billion dirhams in the same period last year, according to a bank statement. Profit for the quarter was largely unchanged on a sequential basis.
For the first nine months of the year, FAB's net profit rose 3% year-on-year to 16.50 billion dirhams. Growth was driven primarily by an 11% increase in net interest income, reflecting wider spreads between earnings on customer loans and interest payouts on deposits.
Chief Financial Officer Lars Kramer stated that the bank's net margins remained resilient, with customer lending expanding through continued operating momentum across its business franchises. FAB reported that net loans and advances expanded by 10% over the nine-month period, while customer deposits grew by 5%.
The lender's total assets reached 1.47 trillion dirhams at the close of the period. Net impairment charges rose 33% year-on-year to 3.10 billion dirhams during the first nine months, which the bank attributed to a prudent approach to risk management amid broader regional market uncertainties.
FAB's shareholder base includes Abu Dhabi sovereign investor Mubadala, which holds nearly 40% of the institution, and members of the Abu Dhabi royal family, who collectively own almost 20%, according to LSEG data.
Sources
- Zawya · 2026-10-29
