First Abu Dhabi Bank full year profit jumps 4% as operating income climbs – The National

First Abu Dhabi Bank full year profit jumps 4% as operating income climbs – The National

First Abu Dhabi Bank full year profit jumps 4% as operating income climbs. Net profit in 2019 rose to Dh12.5bn as operating income advanced 4% to Dh20bn. First Abu Dhabi Bank, the UAE's largest lender by assets, reported a 4 per cent jump in full-year profit due to higher operating income.. Full year net profit for the period ending December 31, 2019 climbed to Dh12.5 billion, the lender said in a statement to Abu Dhabi Securities Exchange, where its shares trade.. Net impairment charges for the period increased 7 per cent year-on-year to Dh1.84bn.. In the fourth quarter, the lender's net profit jumped 5 per cent year-on-year to Dh3.08bn and operating income rose 6 per cent year-on-year to Dh5.08bn.. Total assets by the end of December climbed to Dh822bn, compared to Dh744bn during the same period in the previous year.. The Lebanese lender's Egyptian unit has total assets of $4.4bn (Dh16.1bn) and would allow FAB to boost growth in different markets, it said last week.. The lender is currently expanding its presence in Saudi Arabia and opened its third branch in Jeddah recently.. In November the central bank instructed Lebanese banks to raise their common equity Tier 1 capital, an