Latest news with #HanaAlRostamani
Gulf Business
6 days ago
- Business
- Gulf Business
First Abu Dhabi Bank reports H1 net profit of Dhs10.63bn
Image: FAB First Abu Dhabi Bank ( Operating income rose 16 per cent year-on-year to Dhs18.31bn, while profit before tax climbed 29 per cent to Dhs12.83bn. Return on tangible equity (RoTE) reached 20.5 per cent, exceeding the bank's medium-term guidance of above 16 per cent. Earnings per share stood at Dhs0.93, up 27 per cent. FAB Q2 highlights In the second quarter, net profit rose 29 per cent to Dhs5.51bn compared to Q2 2024. FAB's balance sheet showed total assets of Dhs.34tn, up 11 per cent since the start of the year. Loans and advances rose 7 per cent to Dhs568bn, while customer deposits grew 4 per cent to Dhs813bn. The bank's common equity Tier 1 (CET1) ratio stood at 13.4 per cent and liquidity coverage ratio (LCR) at 152 per cent. Non-performing loans (NPL) improved to a multi-year low of 2.84 per cent. 'FAB achieved new highs in the first half of 2025, with net profit exceeding Dhs10bn, and RoTE reaching 20.5 per cent. This reflects a franchise defined by scale, connectivity, and innovation,' said group CEO Hana Al Rostamani. 'AI is increasingly embedded in how we operate and how we serve clients.' Al Rostamani highlighted advances in AI-driven capabilities, such as Microsoft 365 Copilot, AI-powered onboarding and analytics, and services including Voice Concierge and the Board AI Observer. Group CFO Lars Kramer noted that all divisions delivered double-digit revenue growth, with profit before tax rising 29 per cent, citing 'consistent delivery at scale' and the recent launch of the region's first blockchain-based FAB's international business: Highlights International business momentum continued, with income reaching Dhs3.1bn, or 17 per cent of group revenue. Loans and deposits in international markets increased 28 per cent and 24 per cent respectively, with growth seen in the UK, France, Switzerland, and Saudi Arabia. FAB also became the first MENA bank to join China's Cross-border Interbank Payment System (CIPS) as a direct participant, strengthening cross-border connectivity. Sustainable and transition financing facilitated by FAB reached Dhs318bn to date, or 64 per cent of its Dhs500bn target by 2030. The bank retained leading ESG ratings in the region, including MSCI AA. FAB continues to hold the strongest combined credit rating among MENA banks, rated AA- or equivalent.
Arabian Business
6 days ago
- Business
- Arabian Business
First Abu Dhabi Bank's H1 2025 profit jumps 26% to record AED10.63bn on strong non-interest income
First Abu Dhabi Bank (FAB) on Tuesday reported a 26 per cent year-on-year rise in first-half net profit to AED 10.63 billion ($2.90 billion), its highest ever for a six-month period, boosted by strong fee and trading income and steady loan growth. The UAE's largest lender said operating income for the six months to June 30 rose 16 per cent to AED 18.31 billion, while profit before tax increased 29 per cent to AED 12.83 billion. Earnings per share rose 27 per cent to AED 0.93. Return on tangible equity reached 20.5 per cent, up from 17.3 per cent a year earlier and above the bank's medium-term guidance of over 16 per cent. Net interest income for the period grew 2 per cent year-on-year to AED 9.96 billion, while non-interest income surged 41 per cent to AED 8.35 billion, driven by a 25 per cent rise in fees and commissions and a 30 per cent increase in foreign exchange and investment income. Chief Executive Hana Al Rostamani said the bank's record performance 'reinforces FAB's position as the UAE's global bank,' citing the lender's 'scale, connectivity, and innovation, with AI increasingly embedded in how we operate and how we serve our clients.' First Abu Dhabi Bank's second-quarter net profit rose 29 per cent year-on-year to AED 5.51 billion, with all business divisions delivering double-digit revenue growth. Loans and advances at the end of June were AED 568 billion, up 7 per cent since December, while customer deposits grew 4 per cent to AED 813 billion. Total assets rose 11 per cent year-to-date to AED 1.34 trillion. The non-performing loan ratio improved to 2.84 per cent, and the common equity tier-1 (CET1) ratio stood at 13.4 per cent. The liquidity coverage ratio was 152 per cent. Chief Financial Officer Lars Kramer said the results reflected 'diversified revenue growth, resilient margins, prudent risk management, and targeted investments in technology and AI.' He also highlighted the bank's issuance of the region's first blockchain-based digital bond as 'a milestone that underscores FAB's leadership in shaping the future of capital markets in the region.' First Abu Dhabi Bank's investment banking and markets revenue rose 17 per cent year-on-year, underpinned by strong origination and leadership in MENA capital markets. Wholesale banking revenue grew 12 per cent, and personal, business, wealth, and privileged client banking revenue rose 12 per cent, with a 61 per cent increase in private banking and wealth assets under management. Internationally, loans and deposits rose 28 per cent and 24 per cent, respectively, led by growth in the UK, France, Switzerland, and Saudi Arabia. The bank also became the first in the MENA region to join China's Cross-border Interbank Payment System (CIPS) as a direct participant. First Abu Dhabi Bank said it has facilitated AED 318 billion in sustainable and transition financing to date — 64 per cent of its AED 500 billion target for 2030 — and has maintained its AA- or equivalent credit rating, the strongest combined rating among MENA banks.
Al Etihad
7 days ago
- Business
- Al Etihad
FAB net profit surpasses Dh10 billion for first time
23 July 2025 11:29 ABU DHABI (WAM)First Abu Dhabi Bank (FAB) has delivered a record financial performance in the first half of 2025, reporting a net profit of Dh10.63 billion, up 26 percent year-on-year, surpassing the Dh10 billion mark for the first time in a half-year per share grew 27 percent yoy to Dh0.93 in H1'25 and Return on Tangible Equity (RoTE) stood at 20.5 percent, firmly on track with FAB's medium-term guidance of above 16 before tax increased 29 percent to Dh12.83 billion driven by a 16 percent yoy rise in operating income to Dh18.31 billion in H1' interest income rose 2 percent yoy to Dh9.96 billion, and non-interest income grew 41 percent to Dh8.35 billion. The latter was driven by a 25 percent rise in fees and commissions on the back of strong deal origination and deal execution, and a 30 percent increase in FX and investment income, supported by robust client flows and a strong trading and advances rose 7 percent ytd to Dh568 billion, while customer deposits increased 4 percent to Dh813 billion, reflecting healthy growth across both wholesale and retail franchises. Total assets grew 11 percent ytd to Dh1.34 Chief Executive Officer of FAB, Hana Al Rostamani, said, "Our record performance reinforces FAB's position as the UAE's Global Bank and reflects a franchise defined by scale, connectivity, and innovation, with AI increasingly embedded in how we operate and how we serve our clients." Group Chief Financial Officer of FAB, Lars Kramer, stated, "We achieved broad-based growth with all divisions delivering double-digit revenue expansion, highlighting effective balance sheet deployment, the deepening of relationships and sustained client engagement in dynamic market conditions."
The National
7 days ago
- Business
- The National
UAE's largest lender FAB posts 29% jump in second-quarter profit on revenue boost
First Abu Dhabi Bank, the UAE 's largest lender by assets, reported a 29 per cent annual increase in its second-quarter net profit on diversified revenue growth. Net profit attributable to share holders for the three months to the end of June climbed to Dh5.51 billion ($1.5 billion), the lender said on Wednesday in a statement to the Abu Dhabi Securities Exchange, where its shares are traded. Net interest income during the quarter rose to Dh4.37 billion, while net fee and commission income increased to Dh1.1 billion. Net income from Islamic financing and investing products also increased by more than 11 per cent to Dh576 million during the period. 'We achieved broad-based growth with all divisions delivering double-digit revenue expansion,' said FAB group chief financial officer Lars Kramer. 'With robust capital, liquidity and funding buffers, and a high-quality risk profile, FAB remains well positioned to navigate evolving market conditions.' Group chief executive Hana Al Rostamani added that the lender is 'progressing plans' to expand its international footprint. FAB, created through the merger of the National Bank of Abu Dhabi and First Gulf Bank in 2017, has been pursuing acquisitions in the broader Middle East and North Africa region for the past few years. In June 2022, FAB completed the merger of Bank Audi Egypt with its Egyptian operations, consolidating its market position in the most populous Arab country. The combined entity, which operates as FABMISR, is one of the largest foreign banks in the Egyptian market, with assets of more than $10 billion. FAB is progressing plans to expand its international footprint Hana Al Rostamani, group chief executive FAB also offered to acquire 51 per cent of EFG Hermes, Egypt's largest investment bank, in February 2022. However, it withdrew the offer two months due to 'global market uncertainty and volatile macroeconomic conditions'. The lender is open to acquisition opportunities in the Mena region and in markets beyond as long as the deals make commercial sense and create value, Ms Al Rostamani told The National in 2023. The bank's growth comes as the UAE economy continues to expand on the back of diversification efforts. The UAE's economy grew by 4 per cent last year, driven by a strong expansion in its non-oil sector, with real gross domestic product reaching Dh1.776 trillion, the Ministry of Economy said last month. The UAE Central Bank expects real GDP to expand by 4.4 per cent in 2025 and increase to 5.4 per cent in 2026. For the first half of this year, FAB reported a 26 per cent rise in net profit to Dh10.63 billion, surpassing the Dh10 billion mark for the first time in a half-year period. This was driven by 'broad-based growth and strong business activity on the back of an expanding client base, diversified growth across key economic sectors, and a rise in customer acquisitions', the statement said. Loans, advances and Islamic financing rose 7 per cent year-to-date to Dh568 billion, while customer deposits increased 4 per cent to Dh813 billion, according to the statement. The bank's non-performing loan ratio improved to 2.84 per cent in the same period. Total assets climbed nearly 11 per cent year-to-date to Dh1.3 trillion.
Zawya
23-06-2025
- Business
- Zawya
FAB becomes MENA's first lender to join CIPS as direct participant
Abu Dhabi: First Abu Dhabi Bank (FAB) has become the first lender in the MENA region to join the cross-border Interbank Payment System (CIPS) as a direct participant (DP), according to a press release. FAB's direct participation in CIPS, the official cross-border payment infrastructure for Renminbi (RMB), improves its ability to provide clients with faster, more secure, and efficient cross-border RMB payment solutions. The announcement also reinforces the ADX-listed bank's position in cash management and clearing across the MENA region. Meanwhile, FAB is the only UAE bank operating a fully licensed branch in Mainland China and is committed to meeting the needs of clients and partners in both markets. This aligns with FAB's leadership in digital transformation and its commitment to anchoring the UAE's position as a regional financial hub. Hana Al Rostamani, Group CEO at FAB, said: "Our direct participation in CIPS significantly enhances our ability to provide faster, more secure and efficient RMB payment solutions and deliver real-time settlement capabilities.' 'This development reinforces our leadership in regional cash management and clearing. It also strengthens FAB's role as a trusted financial infrastructure partner for clients transacting between China, the UAE and the broader MENA region," Al Rostamani highlighted. FAB is also the first bank in the MENA region to deploy Oracle and Mastercard's solution to revolutionize business-to-business (B2B) finance and payments transactions. In the first quarter (Q1) of 2025, the UAE-based lender logged net profits valued at AED 5.12 billion, higher by 23% year-on-year (YoY) than AED 4.15 billion.
