First Abu Dhabi Bank (FAB), the largest bank in the UAE by market capitalisation, announced a net profit of AED 5.13 billion (USD 1.39 billion) for the first quarter of 2025 on Tuesday, marking a 23% year-on-year increase.
This result exceeded the average analysts’ forecast of AED 4.24 billion, based on data from LSEG.
“There was a strong performance across various segments, with earnings uplift driven by improved fee income and better asset quality,” stated Chiradeep Ghosh, a banking analyst at Bahrain-based SICO Bank, speaking to Zawya.
Earnings per share (EPS) stood at AED 0.44, compared to AED 0.35 during the same period last year.
Operating income rose by 11% to AED 8.81 billion, “largely counterbalancing the effects of the newly implemented UAE corporate tax,” according to Lars Kramer, Group Chief Financial Officer at FAB.
Year-on-year, loans and deposits increased by 8% and 4% respectively, while impairment charges declined by 29%.
Net interest income saw a 3% increase to AED 5 billion, whereas non-interest income surged by 22% to AED 3.8 billion. Net income from fees and commissions climbed to AED 1.20 billion, up from AED 981 million in the corresponding period last year.
The bank’s total assets grew by 6% year-on-year, surpassing the AED 1.3 trillion mark for the first time.
