UAE bank, FAB, profit soared in the second quarter as the country’s largest lender delivered strong results across all divisions. The bank reported a 29% increase in net profit, reaching 5.51 billion dirhams. This figure exceeded analysts’ expectations and highlighted the institution’s resilience in a competitive market.
The outstanding performance reflects robust demand for credit and banking services. As regional governments invest heavily in tourism, infrastructure, and non-oil sectors, UAE bank, FAB, profit from growing opportunities. Net interest income rose slightly to around 5 billion dirhams. Meanwhile, non-interest income jumped over 60% to 4.5 billion dirhams, driven by fees and commissions.
CFO Lars Kramer credited the strong performance to “broad-based growth” across all segments. He also pointed out that prudent risk management and investments in technology and artificial intelligence supported these results. By prioritizing innovation, the bank enhanced its ability to adapt and deliver consistent shareholder returns.
On the contrary, loans, advances, and Islamic financing grew 11%, totaling 568 billion dirhams. Customer deposits climbed 6% to 813 billion dirhams, showing increased trust in FAB’s financial solutions. The bank’s international operations played a significant role, achieving more than 20% growth in loans and deposits. Key markets included Saudi Arabia, the United Kingdom, and France.
Furthermore, total assets expanded 14%, reaching 1.34 trillion dirhams. Under the leadership of CEO Hana Al Rostamani, the bank has reorganized its business segments to enhance Gulf operations and improve returns. This restructuring follows leadership transitions in recent years and reflects a clear strategy for maintaining FAB’s position as a regional leader.
FAB’s success also stems from its focus on sustainability and global partnerships. However, the bank aims to support economic growth while introducing cutting-edge technologies across its operations. This vision aligns with its goal of becoming one of the Middle East’s most innovative financial institutions.
The lender’s strategy to strengthen its presence in international markets is proving effective. Its diversified portfolio across regions enables it to capitalize on emerging opportunities and mitigate risks. These efforts underscore the bank’s commitment to long-term growth and resilience in a changing global economy.
By leveraging technological advancements and fostering strong partnerships, the UAE bank FAB’s profit continues to grow. Nevertheless, this performance reinforces its reputation as a key player in the Middle East’s financial landscape.
