UAE's biggest bank FAB posts 21% surge in third-quarter net profit

The lender says all business divisions delivered record revenue

First Abu Dhabi Bank headquarters. The bank says it is entering the final quarter of the year with solid momentum and a resilient balance sheet. Wam

First Abu Dhabi Bank, the largest lender in the UAE by assets, reported a nearly 21 per cent jump in its third-quarter net income as revenue surged on strong growth momentum across the lender’s business units.

Net profit for the three months to the end of September climbed to Dh5.38 billion ($1.46 billion), the lender said on Wednesday in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.

FAB’s operating income rose nearly 14 per cent higher on an annual basis to Dh9.3 billion.

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“FAB’s third-quarter performance marked another strong set of results,” Lars Kramer, group chief financial officer, said.

“All business divisions delivered record revenue, driven by effective balance sheet deployment and growth in fee-based businesses supporting an enhanced revenue mix, while interest margins remained resilient.”

Hana Al Rostamani, group chief executive of First Abu Dhabi Bank, says the lender is expanding its international footprint in Europe, Turkey and Nigeria. Victor Besa / The National.

FAB’s earnings growth comes amid continued economic momentum in the UAE as it diversifies away from hydrocarbons.

The UAE economy grew by 3.9 per cent year-on-year to Dh455 billion in the first three months of this year, the Federal Competitiveness and Statistics Centre (FCSC) said in preliminary economic data released last month.

Non-oil GDP grew 5.3 per cent to Dh352 billion, while oil-related activities accounted for 22.7 per cent of the country’s economic output.

The UAE Central Bank has increased its 2025 growth forecast for the country’s economy from 4.4 per cent to 4.9 per cent last month. The economy is projected to further expand by 5.3 per cent in 2026, the banking regulator said in its Quarterly Economic Review report in September.

FAB said net profit for the first nine months of this year surged more than 24 per cent on an annual basis to record Dh16 billion.

Group operating income for the reporting period climbed 16 per cent year on year to Dh27.65 billion.

The lender’s financial performance for the nine-month period reflects “strong momentum”, as “we continued to deliver on our priorities, deepening client relationships, diversifying revenue streams, and deploying capital efficiently to drive sustainable growth and returns", Hana Al Rostamani, group chief executive, said.

The bank has expanded its international footprint in Europe, Turkey, Nigeria, and opened a new branch in India, as it aims to build its position as the “leading corridor bank across key geographies”, she added.

FAB said its balance sheet in the first nine months of this year grew, with loans and advances rising 13 per cent on an annual basis to Dh596 billion. Customer deposits during the period increased 8 per cent to Dh848 billion.

The bank’s assets reached Dh1.38 trillion, up 14 per cent since the beginning of this year.

“FAB remains strongly positioned to capitalise on both global trade flows and the UAE’s expanding economic landscape and diversification agenda,” Ms Al Rostamani said.

“We enter the final quarter of 2025 with solid momentum, a resilient balance sheet, and firm confidence in our ability to sustain strong performance and deliver consistent returns into 2026 and beyond.”