FAB’s full year 2022 group net profit up 7% yoy – Gulf Today

  • Date: 26-Jan-2023
  • Source: Gulf Today
  • Sector:Technology
  • Country:UAE
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FAB’s full year 2022 group net profit up 7% yoy – Gulf Today

Picture used for illustration purpose. File

First Abu Dhabi Bank (FAB) has reported a group net profit of Dhs13.4 billion during 2022, up 7 per cent year-on-year (yoy) compared to the same period in 2021, with earnings per share at Dhs1.18.

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,

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