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The UAE’s biggest lender First Abu Dhabi Bank (FAB) posted a Q3 2023 net profit of 4.3 billion dirhams ($1.17 billion), 46% higher year-on-year (YoY)
The effort beat the analysts’ mean estimate of AED 3.78 billion, according to LSEG data.
Revenue was up 27% to AED 7 billion, the bank said in a statement on Thursday.
For nine-month 2023, FAB made a net profit of AED 12.4 billion, 58% higher YoY.
Operating income grew 38% YoY from higher net interest income.
Total assets reached AED 1.2 trillion, up 7% YoY.
(Reporting by Brinda Darasha; editing by Seban Scaria)
