Abu Dhabi – Mubasher: First Abu Dhabi Bank’s (FAB) net profit grew 2% year-on-year to AED 3 billion in the first quarter of 2018.
Earnings per share (EPS) reached AED 1.06 in Q1-18 versus AED 1.04 in the year-ago period, according to a bank statement.
Operating profits recorded AED 4.9 billion in the first three months of 2018, while net impairment provisions registered AED 439 million in the same period.
“As we enter our second year, FAB continues to make significant progress in delivering on its business objectives and integration milestones, with IT integration activities, in particular, moving forward at a steady pace and according to plan,”, FAB Group’s CEO Abdulhamid Saeed said.
The Abu Dhabi-listed bank’s total assets hit AED 678 billion from January to March 2018, while net loans and customer deposits recorded AED 338 billion and AED 404 billion, respectively.
