In 2024, First Abu Dhabi Bank (FAB) reported an impressive profit before tax (PBT) of AED 19.9 billion, highlighting the bank’s strong financial performance and continued growth. This result is a testament to the bank’s robust business model, efficient operations, and ability to navigate economic challenges.
The PBT figure represents the bank’s earnings before accounting for taxes, providing a clear indication of its financial health and profitability. The AED 19.9 billion profit reflects not only the bank’s core banking activities but also its strategic initiatives in expanding services, increasing market share, and optimizing its operations to ensure growth even in a competitive and often volatile market environment.
FAB’s strong performance can be attributed to several factors, including its diversified portfolio of services that spans corporate and retail banking, investment banking, wealth management, and treasury services. The bank has also maintained a strong foothold in both local and international markets, continuing to build on its position as the UAE’s largest bank by assets. In addition, effective risk management strategies and a focus on digital transformation have enabled FAB to improve customer experience and operational efficiency, contributing to its overall growth.
The year 2024 saw continued economic recovery across the region, with a positive impact on financial institutions such as FAB. However, the bank’s performance is also reflective of its ability to adapt to changing market conditions, its commitment to innovation, and its strategic focus on expanding its business in both established and emerging markets.
This solid financial performance positions FAB well for the future, supporting its capacity to invest in new opportunities, drive sustainable growth, and continue to deliver value to its shareholders and customers. The AED 19.9 billion profit is a clear indication of the bank’s resilience, strength, and commitment to maintaining a leading position in the financial sector.
