First Abu Dhabi Bank (FAB) makes financial history as it announces a groundbreaking net profit of USD 4.5 billion for the full year 2023, marking a remarkable 56% increase on an underlying basis. The Board’s proposal of a 50% payout, amounting to a substantial USD 2.1 billion cash dividend at USD 0.19 per share, reflects the bank’s commitment to delivering robust returns to shareholders.
FAB’s stellar performance extends across key financial indicators, with total income reaching USD 7.6 billion, demonstrating broad-based growth in all core businesses. Total assets stand at USD 318 billion, reinforcing FAB’s position as the largest bank in the UAE. Loans, advances, and Islamic financing experienced a 5% year-on-year growth to USD 132 billion, outpacing the sector and showcasing market share gains.
Hana Al Rostamani, Group Chief Executive Officer of FAB, expresses confidence in the bank’s future growth trajectory, stating, “We have built a strong platform for future growth, ideally placed to facilitate the growing trade and investment flows that support our clients’ ambitions.”
Beyond financial prowess, FAB has set a new standard for sustainability, becoming the first MENA bank to establish financed emissions-reduction targets. With an outstanding position in the green bond market and a commitment to USD 135 billion in sustainable finance by 2030, FAB is leading the charge in supporting the region’s transition to a net-zero future.