10.73 billion dirhams net profits "First Abu Dhabi" During the first half

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Abu Dhabi, July 23 / WAM / First Abu Dhabi Bank’s net profit during the first half of this year increased by 1% compared to the same period last year, reaching 10.73 billion dirhams, while the return on tangible equity remained higher than the group’s medium-term indicative targets, recording 18.5%.

The group recorded a growth in operating revenues of 7% compared to the same period last year, reaching 19.50 billion dirhams, and an increase in pre-tax profits of 3% compared to the same period last year, reaching 13.20 billion dirhams during the first half of 2026.

The revenue growth was supported by broad-based performance across the group’s various business sectors, as net interest income grew by 14% compared to the same period last year to reach 11.48 billion dirhams, driven by increased business volumes and improved margins, while non-interest income remained strong at 8.02 billion dirhams, contributing 41% of the group’s total operating revenues during the first half of 2026.

During the second quarter of the year, the bank recorded an increase in pre-tax profits by 16% compared to the previous quarter, and by 6% compared to the same period last year, to reach 7.08 billion dirhams.

Operating profits also increased during the second quarter of 2026 by 11% compared to the previous quarter, to exceed 8 billion dirhams, which reflects the strength of the group’s various profit engines.

Strong lending activity and continued deposit inflows contributed to supporting balance sheet growth during this period, as total assets increased by 2% year-to-date to reach 1.41 trillion dirhams by the end of June 2026.

Loans and advances also increased by 7% from the beginning of the year to date, to reach 661 billion dirhams, supported by broad-based growth in various sectors, while customer deposits increased by 1% from the beginning of the year to date to reach 853 billion dirhams.

During the period, First Abu Dhabi Bank strengthened its financial position with Moody’s, Fitch and Standard & Poor’s reaffirming the group’s credit ratings at the “AA-” level or its equivalent, with a stable future outlook.

Hana Al Rostamani, CEO of First Abu Dhabi Bank Group, said that First Abu Dhabi Bank’s strong performance during the first half of the year reflects the size, breadth and diversity of its business, and its ability to continue achieving strong returns through the effective and consistent implementation of its strategy. These results reflect the strength of its customer base and the depth of the trust relationships it has built in its local market and across its international network.

For his part, Lars Kramer, Chief Financial Officer of the First Abu Dhabi Bank Group, said that First Abu Dhabi Bank recorded a strong performance during the first half of 2026, culminating in the second quarter with record results. This performance was supported by improved margins, strong customer activity and transaction volumes, and strong performance within its investment portfolio in light of favorable market conditions, in addition to continued discipline in cost management. While the quality of the basic portfolio remained strong, the bank continued during the period, enhancing… Prudential administrative allocations, reflecting its rational approach to risk management in light of a changing operating environment.

In the field of artificial intelligence, the group continues the process of integrating it on a large scale to support sustainable and scalable growth, enhance productivity and efficiency, and improve customer experience.

The group achieves tangible and measurable business value on a large scale, by increasing productivity by more than 20%, and reducing manual effort by between 70% and 80% across key business sectors, supported by the rapid expansion of the artificial intelligence agent system and its various applications.

With regard to sustainable financing, the bank announced that, to date, it has facilitated sustainable and transitional financing worth 395 billion dirhams, achieving 79% of its goal of 500 billion dirhams until 2030, in line with the bank’s commitment to achieving a tangible and meaningful impact across the financing system.