First Abu Dhabi Bank reported a 6 per cent annual jump in its third-quarter profit, as net interest income and fee and commission income grew during the period on the back of strong business activity.
Net profit attributable to shareholders of the bank for three months to the end of September climbed to 5.73 billion ($1.5 billion), the largest lender in the UAE by assets said in a statement on Thursday to the Abu Dhabi Securities Exchange, where its shares trade.
Net interest income for the quarter rose nearly 7 per cent year-on-year to Dh4.8 billion, while net fee and commission income increased 16 per cent to Dh1.4 billion.
The Abu Dhabi-based lender’s nine-month profit grew 3 per cent to Dh16.4 billion.
“This performance reflects sustained growth across our businesses, the strength and scale of our diversified platform, and the continued expansion of our global franchise,” group chief executive Hana Al Rostamani said. “It also highlights our ability to deliver consistent returns while maintaining a strong financial position.”
Net impairment charges for third quarter reached Dh1 billion, from the Dh850 million reported for the same period of last year.
