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First Abu Dhabi Bank PJSC (FAB), the UAE’s largest lender, reported a 2% year-on-year (YoY) decline in Q1 2026 net profit to AED 5.01 billion ($1.4 billion), as impairment provisions increased.
The result topped analysts’ mean estimate of AED 4.38 billion, according to LSEG data.
Operating profit rose 5% YoY to AED 7.22 billion as operating income grew 6% to AED 9.34 billion and operating expenses increased 7% to AED 2.11 billion.
Net loans and advances grew 8% year to date to AED 668 billion, while customer deposits increased 4% to AED 871 billion.
Net impairment charges climbed to AED 1.10 billion from AED 724 million a year earlier, including AED 300 million, which the bank said was in management overlays reflecting a tougher external environment.
During the quarter, FAB raised AED 8.6 billion ($2.4 billion equivalent) in senior wholesale funding.
(Writing by Brinda Darasha; editing by Daniel Luiz)
