UAE's First Abu Dhabi Bank (FAB) reported a record H1 2024 net profit of AED 8.4 billion, a 16% year-on-year increase.
UAE's First Abu Dhabi Bank (FAB) reported a record H1 2024 net profit of AED 8.4 billion and revenue of AED 15.7 billion, a 16% year-on-year increase. The bank's profit before tax grew by 15% year-on-year to AED 10 billion. FAB's robust performance was driven by double-digit growth across interest and non-interest income sources, benefiting from strong business momentum, an expansion in net interest margin (NIM), and an improved revenue mix.
July 24, 2024
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