Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has delivered a record financial performance during the period from January to June 2019, group CEO of FAB Abdulhamid Saeed said, commenting on the AED 6.3 billion recorded in the first half this year.
Despite challenging market conditions, FAB achieved a year-on-year growth in assets, revenue, and net profit, in addition to maintaining a strong balance sheet and showing improved asset quality, liquidity, and capital ratios, the CEO added.
FAB's total assets stood at AED 775 billion ($211 billion) by 30 June 2019.
“Our risk-adjusted returns have also improved, in line with our commitment to enhancing profitability across core businesses and targeted markets. The recent reaffirmation of our ‘AA-’ credit rating by Standard and Poor’s is a strong testament of FAB’s robust credit profile and competitive strengths,” Abdulhamid Saeed highlighted.
The CEO pinpointed that during H1-19, FAB made significant progress in delivering against the bank’s strategic goals.
“We also continued to be a key partner for the Abu Dhabi government in various avenues from Payments to SME financing. FAB will continue to drive economic growth and diversification in the communities in which we operate, leveraging on our market-leading capabilities to support our stakeholders to grow stronger,” he further said.
