First Abu Dhabi Bank (FAB), the largest lender in the UAE, posted a significant year-on-year rise in net profit for the first half of the year, underpinned by a favorable regional backdrop despite global market volatility.

Net profit during the period reached AED8 billion ($2.17 billion), up by 50% compared to the same period last year.

For the second quarter of the year, total net profit stood at AED2.9 billion, slightly up from a year ago but still beating analyst estimates.

"Core businesses maintained solid growth momentum... We continued to deliver on our growth objectives," the Abu Dhabi-listed lender said in its earnings presentation on Thursday.

"Despite global market headwinds, FAB remains in a strong position to weather uncertain times," it added.

Earnings per share stood at AED1.43, up 52% year-on-year, while total income rose 31% to AED12.5 billion.

(Reporting by Cleofe Maceda; editing by Daniel Luiz)