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Al Etihad
4 days ago
- Business
- Al Etihad
Over 1% FAB shares sold in bulk transactions
2 June 2025 11:28 A. SREENIVASA REDDY (ABU DHABI)The Abu Dhabi Securities Exchange (ADX) on Monday reported large-scale bulk transactions involving shares of First Abu Dhabi Bank (FAB), the UAE's largest bank.A total of 113.356 million shares, valued at Dh1.757 billion, were traded across 32 transactions at an average price of Dh15.5 — a slight discount compared to FAB's closing price of Dh16.1 on Friday. The number of shares traded constitutes slightly above 1% of total shares of 11.047 billion. International wire agencies reported a big secondary sale of FAB shares on Friday, quoting Citi, which is said to be the bookrunner for the deal.'The selling shareholder, whose name was not disclosed, is offering around 113 million shares at a price of Dh15.5 per share through an accelerated bookbuilding,' Reuters said, quoting a Citi reported total assets of Dh1.31 trillion as of the end of March, while its market capitalisation currently stands at Dh174 billion, according to the latest data available from information published on FAB's official website, as of March 31, 2025, shows that Mubadala Investment Company holds the largest stake at 37.9%, followed by Abu Dhabi's ruling family (18%), and other UAE entities and individuals (21.7%). Foreign ownership accounts for 22.4%, while the free float — the proportion of shares available for trading on public markets — is listed at 42%. Stock Markets Continue full coverage
Al Etihad
29-04-2025
- Business
- Al Etihad
FAB reports record net profit of Dh5.13b in Q1 2025
29 Apr 2025 09:54 A. SREENIVASA REDDY (ABU DHABI) First Abu Dhabi Bank (FAB) has delivered a record-breaking first quarter performance, achieving strong growth across key financial to detailed results posted on the Abu Dhabi Securities Exchange (ADX) website, FAB reported a net profit of Dh5.13 billion for the first quarter ended March 31, 2025, representing a 23% year-on-year (YoY) increase, despite the introduction of new UAE corporate tax requirements at the beginning of the income rose 11% year-on-year to Dh8.81 billion, supported by a balanced contribution from both interest and non-interest income streams.'Our performance in the first quarter of 2025 reflects strong business momentum in our UAE operations and across the international franchise,' said Hana Al Rostamani, Group Chief Executive Officer of FAB. 'We will continue to leverage our strengths to drive innovation and customer experience and remain focused on delivering consistent value to our clients and strong, sustainable returns to our shareholders.'FAB's robust earnings translated into a Return on Tangible Equity (RoTE) of 20.4%, up from 17.4% in the first quarter of 2024, positioning the bank firmly on track with its medium-term target of maintaining RoTE above 16%.The bank's total assets reached Dh1.31 trillion, up 6% year-on-year, driven by strong growth across loans, investments, and customer deposits. Net loans and advances grew 8% year-on-year to Dh548 billion, reflecting healthy origination across diversified sectors and geographies. Customer deposits increased by 4% year-on-year to Dh 839 billion, with current and savings accounts (CASA) balances expanding by 10% to Dh376 billion, accounting for 45% of total asset quality remained solid with a non-performing loan (NPL) ratio of 3.3%, improving by 40 basis points from a year earlier. Provision coverage also strengthened to 98%, underscoring the bank's prudent risk management income was a highlight, rising 22% year-on-year to Dh3.8 billion, reflecting strong growth in fees, commissions, and trading activities. The bank's cost-to-income ratio improved to 22.3%, highlighting continued operating efficiencies despite ongoing investments in digital transformation and AI-driven initiatives.'We achieved an outstanding set of results this quarter on the back of strong commercial momentum, resilient margins, robust fee and trading performances, and enhanced revenue from flow products," said Lars Kramer, Group Chief Financial Officer. 'With the strongest combined credit rating among any other bank in MENA, FAB continues to operate from a relative position of strength. This is supported by a robust capital base, ample liquidity, high- quality portfolios, and a diversified business model.'The report highlighted FAB's commitment to innovation, with the bank becoming the first in the region to introduce an AI Agent Board Observer at its board meetings. The adoption of artificial intelligence, coupled with continued growth in digital platforms like the Payit mobile wallet, is enhancing customer experience and operational efficiency. On the sustainability front, FAB made significant strides, facilitating Dh284 billion in sustainable and transition financing to date —57% of its 2030 target. It also became the first bank in the MENA region to issue a nature-related financial disclosure aligned with the TNFD framework.
Gulf News
29-04-2025
- Business
- Gulf News
UAE's biggest bank FAB scores high in Q1-2025 profit, makes more gains from overseas ops
Dubai: The UAE's biggest bank – FAB – rang up a 23% gain in Q1-2025 net profit from a year ago, to total Dh5.13 billion. The operating income for the first three months was Dh8.81 billion, higher by 11%. The Abu Dhabi bank have other reasons to be pleased about its performance, with its international operations contributing 30% of group-wide assets of Dh1.31 trillion. 'FAB's performance in the first quarter of 2025 reflects strong business momentum in its operations in the UAE and across the international franchise,' said Hana Al Rostamani, Group CEO at FAB. The UAE's banking sector will have no complaints from their numbers in Q1-25, and FAB's results are the latest to reinforce that. "We expanded our business in investment banking and markets, in wholesale banking, in personal, business, wealth and privileged client banking group, as well as in our international branches," said Hana. (The overseas operations recorded loan and deposit gains of 19% and 13% year-on-year.) Good uptake on loans Loans, advances and Islamic financing (net) were 8% higher year-on-year - and 4% on a year-to-date basis - to Dh548 billion. The growth in the loan books so far this year will be particularly encouraging, and a theme that UAE's other leading banks had noted in their own Q1-25 financials. FAB's net interest income was Dh5 billion, up 3% yoy and 1% quarter-on-quarter, led by 'healthy origination across divisions and geographies, driven by diversified sectors and retail lending'. The net interest margin (NIM) was 1.97%. The operating income growing 11% to Dh8.81 billion meant FAB ended Q1 'largely offsetting the impact of the increase in UAE corporate tax during the period', said Lars Kramer, Group CFO. "FAB continues to operate from a relative position of strength. This is supported by a robust capital base, ample liquidity, high-quality portfolios, and a diversified business model – all of which reinforce our resilient profile amid evolving market dynamics and heightened uncertainties.' Impairment charges FAB trimmed its net impairment charges to Dh700 million, which is lower by 29% year-on-year and 34% on a quarter-on-quarter basis.
