Resilient performance with nine-month Group Net Profit achieved at AED 8.09 Billion

Solid third quarter results underpin resilient performance year-to-date

  • Group Net Profit at AED 2.61 Billion in the third quarter, up 2% sequentially
  • Excluding one-off gains on sale of investment properties, Group Net Profit for the nine-month period is up 2% year-on-year and lower by 4% year-on-year in the third quarter
  • Solid Returns on Risk Weighted Assets* (RoRWA) at 2.2%, stable year-on-year

Integration journey progressing well; merger benefits materialising ahead of plan

  • Group continues to achieve key milestones in integration journey
  • Industry-leading cost-to-income ratio (excluding integration costs) of 27.6% supported by the realisation of cost synergies ahead of plan and one-time integration costs well under control 

Leading franchise generates strong business momentum in third quarter

  • Net loans and advances up 2% sequentially to AED 328 Billion
  • FAB dominates GCC and MENA loan league tables year-to-date
  • Group Net Interest Margin* (NIM) at 2.22%, improved sequentially

Healthy asset quality metrics reflect prudent and best-in-class risk management practices

  • Non-Performing Loan (NPL) ratio at 3.0% and provision coverage at 109%
  • Cost of risk* at 71bps, improving from 79bps in prior year period

Ample liquidity and strengthened capital position

  • Customer deposits at AED 379 Billion
  • Loan-to-deposit ratio highly comfortable at 86.6%
  • Common Equity Tier-1 (CET11) ratio at 14.6%, up from 13.8% as of September-end 2016

Contact Us

Visit a Branch

Talk to our experts about your banking needs

Phone Us

Lines Open 24/7

UAE Helpline

600 52 5500

International Helpline

+971 2 6811511

Email Us

We'll answer your query as soon as possible