emirates7 - First Abu Dhabi Bank (FAB) delivered strong financial performance in 2024, achieving a Group net profit of AED 17.1 billion, marking a 4% year-on-year (YoY) increase. This growth was driven by a 15% rise in revenue, which reached AED 31.6 billion.
Profit before tax increased by 13% YoY to AED 19.9 billion, reflecting higher client activity, strong business volumes, diversified income sources, and improved operational efficiencies. FAB’s consistent expansion in scale and profitability further reinforced its position as the UAE’s leading global bank.
In the fourth quarter of 2024, FAB reported a net profit of AED 4.2 billion, up 4% YoY, while Q4 revenue grew 11% YoY to AED 7.7 billion.
The Board of Directors has proposed a cash dividend of 75 fils per share for the financial year ending 31st December 2024, amounting to a total payout of AED 8.3 billion—representing 51% of the Group’s net profit available for distribution. The dividend proposal will be subject to shareholder approval at the Annual General Meeting scheduled for 11th March 2025.
FAB experienced double-digit revenue growth across both its domestic operations (11%) and international franchise (32%), strengthening its global presence across 20 key financial markets.
By the end of December 2024, total assets had risen 4% YoY to AED 1.21 trillion. Loans, advances, and Islamic financing expanded by 9% YoY to AED 529 billion, while customer deposits increased by 3% YoY to AED 782 billion.
H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of FAB, commented, “FAB’s performance in 2024 reflects consecutive years of expansion and rising profitability, underscoring our steady progress in executing our Group strategy as the UAE’s global bank. Benefiting from the UAE’s economic growth, our strategic focus on strengthening relationships across key financial corridors, and market diversification, FAB delivered robust results supported by record business volumes, innovation, and successful expansion.”
He highlighted that FAB’s accomplishments have reinforced the UAE’s position as a premier financial and business hub, in line with the leadership’s vision of an open, efficient, and globally integrated economic environment. “As the UAE’s global bank for businesses and investors, FAB is fully aligned with this vision and continues to play a pivotal role in supporting the nation’s global aspirations,” he added.
Reaffirming the Board’s recommendation for a cash dividend of 75 fils per share, Sheikh Tahnoon emphasized, “Looking ahead, FAB will remain integral to shaping the UAE’s future vision, fostering sustainable growth and innovation, and connecting local, regional, and international economies within a world-class financial ecosystem.”
Group Chief Executive Officer Hana Al Rostamani remarked, “Our strategy has yielded strong results in the UAE, our core market, while also driving the expansion of our international franchise. By diversifying growth across customer segments and revenue streams, we increased international revenue by 32%.”
She stressed that FAB’s balance sheet strength remains a cornerstone of its success, with solid capital and liquidity positions, coupled with disciplined risk management, ensuring sustained resilience and trust from customers and stakeholders.
Additionally, Al Rostamani highlighted FAB’s progress in Environmental, Social, and Governance (ESG) initiatives, having facilitated AED 267 billion in sustainable and transition financing projects to date—already surpassing half of the Group’s 2030 target of AED 500 billion.
FAB also advanced towards its carbon emission reduction goals and became the first bank in the region to publish a Taskforce on Nature-related Financial Disclosures (TNFD) report, reinforcing its commitment to aligning financial operations with environmental sustainability.
The bank saw notable growth across various business segments. Investment Banking revenue climbed 19% YoY, maintaining top rankings in key MENA investment banking league tables. Meanwhile, Global Markets revenue rose by 18%.
FAB also reported a 20% increase in new-to-bank customers, with lending and deposits growing by 15% and 17%, respectively. Current and savings account (CASA) balances also recorded strong growth. The bank’s private banking services saw a remarkable 75% YoY surge in assets under management.
Continuing its leadership in sustainable finance, FAB remained a regional frontrunner in green and social bond and sukuk issuances, with a total of USD 4.1 billion outstanding.
Furthermore, the bank expanded its support for small and medium enterprises (SMEs), providing over AED 4.3 billion in new financing during 2024—a 30% increase compared to the previous year.
Profit before tax increased by 13% YoY to AED 19.9 billion, reflecting higher client activity, strong business volumes, diversified income sources, and improved operational efficiencies. FAB’s consistent expansion in scale and profitability further reinforced its position as the UAE’s leading global bank.
In the fourth quarter of 2024, FAB reported a net profit of AED 4.2 billion, up 4% YoY, while Q4 revenue grew 11% YoY to AED 7.7 billion.
The Board of Directors has proposed a cash dividend of 75 fils per share for the financial year ending 31st December 2024, amounting to a total payout of AED 8.3 billion—representing 51% of the Group’s net profit available for distribution. The dividend proposal will be subject to shareholder approval at the Annual General Meeting scheduled for 11th March 2025.
FAB experienced double-digit revenue growth across both its domestic operations (11%) and international franchise (32%), strengthening its global presence across 20 key financial markets.
By the end of December 2024, total assets had risen 4% YoY to AED 1.21 trillion. Loans, advances, and Islamic financing expanded by 9% YoY to AED 529 billion, while customer deposits increased by 3% YoY to AED 782 billion.
H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of FAB, commented, “FAB’s performance in 2024 reflects consecutive years of expansion and rising profitability, underscoring our steady progress in executing our Group strategy as the UAE’s global bank. Benefiting from the UAE’s economic growth, our strategic focus on strengthening relationships across key financial corridors, and market diversification, FAB delivered robust results supported by record business volumes, innovation, and successful expansion.”
He highlighted that FAB’s accomplishments have reinforced the UAE’s position as a premier financial and business hub, in line with the leadership’s vision of an open, efficient, and globally integrated economic environment. “As the UAE’s global bank for businesses and investors, FAB is fully aligned with this vision and continues to play a pivotal role in supporting the nation’s global aspirations,” he added.
Reaffirming the Board’s recommendation for a cash dividend of 75 fils per share, Sheikh Tahnoon emphasized, “Looking ahead, FAB will remain integral to shaping the UAE’s future vision, fostering sustainable growth and innovation, and connecting local, regional, and international economies within a world-class financial ecosystem.”
Group Chief Executive Officer Hana Al Rostamani remarked, “Our strategy has yielded strong results in the UAE, our core market, while also driving the expansion of our international franchise. By diversifying growth across customer segments and revenue streams, we increased international revenue by 32%.”
She stressed that FAB’s balance sheet strength remains a cornerstone of its success, with solid capital and liquidity positions, coupled with disciplined risk management, ensuring sustained resilience and trust from customers and stakeholders.
Additionally, Al Rostamani highlighted FAB’s progress in Environmental, Social, and Governance (ESG) initiatives, having facilitated AED 267 billion in sustainable and transition financing projects to date—already surpassing half of the Group’s 2030 target of AED 500 billion.
FAB also advanced towards its carbon emission reduction goals and became the first bank in the region to publish a Taskforce on Nature-related Financial Disclosures (TNFD) report, reinforcing its commitment to aligning financial operations with environmental sustainability.
The bank saw notable growth across various business segments. Investment Banking revenue climbed 19% YoY, maintaining top rankings in key MENA investment banking league tables. Meanwhile, Global Markets revenue rose by 18%.
FAB also reported a 20% increase in new-to-bank customers, with lending and deposits growing by 15% and 17%, respectively. Current and savings account (CASA) balances also recorded strong growth. The bank’s private banking services saw a remarkable 75% YoY surge in assets under management.
Continuing its leadership in sustainable finance, FAB remained a regional frontrunner in green and social bond and sukuk issuances, with a total of USD 4.1 billion outstanding.
Furthermore, the bank expanded its support for small and medium enterprises (SMEs), providing over AED 4.3 billion in new financing during 2024—a 30% increase compared to the previous year.