ABU DHABI, (Pakistan Point News - 24th Oct, 2019) First Abu Dhabi Bank, FAB, reported a group net profit of AED9.4 billion, up four percent year-on-year, for the nine-month period ended 30th September 2019 today.
According to a statement released by the UAE's largest bank, a solid set of results were driven by core revenue momentum, with annualised earnings per share, EPS, at AED1.10, compared to AED1.07 in the first nine months of 2018.
FAB also reported third quarter net profits of AED3.1 billion, up three percent year-on-year, driven by a five percent increase in operating income.
Strong balance sheet growth reflecting sustained business activity and risk discipline were also reported by the bank, with total assets at AED788 billion, up six percent year-to-date.
Commenting on the bank’s performance, Abdulhamid Saeed, Group Chief Executive Officer of FAB, said, "Our financial results for the third quarter of the year reflect a solid performance characterised by the effective execution of our strategy to drive growth and transformation as we remain firmly on track to unlock our full potential."
