FAB reports full year 2022 Group Net Profit of AED13.4 billion, up 7% yoy

FAB reports full year 2022 Group Net Profit of AED13.4 billion, up 7% yoy

ABU DHABI, 26th January, 2023 (WAM) -- First Abu Dhabi Bank (FAB) has reported a Group Net Profit of AED13.4 billion during 2022, up 7% year-on-year (yoy) compared to the same period in 2021, with earnings per share at AED1.18.

H.H. Sheikh Tahnoun bin Zayed Al Nahyan, National Security Adviser and Chairman of FAB, said, "2022 was a year of continued strategic diversification and expansion for the UAE and regional economies, which posted their fastest economic growth in a decade. By capitalising on favourable macroeconomic conditions, FAB has been laying the foundations for the future.

“The bank has also been at the forefront of the UAE's progress in driving sustainable growth amid a turbulent global backdrop, supported by structural reforms, high oil prices and recovery across non-oil economic sectors.”

Sheikh Tahnoun noted that the achievements emphasise FAB's continuing role as an engine for the region's economic prosperity, acting as an enabler to unlock new opportunities for clients and stakeholders across the bank's franchise.

He continued, "We have made solid progress against this vision over the year. In achieving the Group's highest annual revenue and net profit to date, FAB has strengthened its strategic position to build a future-proof bank and advance the interests of