{
  "id": 17018583,
  "title": "First Abu Dhabi Bank's third-quarter profit rises 6% on net interest income growth",
  "url": "https://urgent.news/2026/10/29/first-abu-dhabi-banks-third-quarter-profit-rises-6-on-net-interest",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T05:38:29.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40446467/first-abu-dhabi-banks-third-quarter-profit-rises-6-on-net-interest-income-growth"
  },
  "original_language": "en",
  "account": "First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates by assets, announced a 6% increase in net profit for the third quarter of its fiscal year ending September 30, 2023. The bank reported a net profit of 5.74 billion dirhams ($1.56 billion), an increase from 5.39 billion dirhams a year earlier. Net profit for the first nine months of the year rose 3% to 16.50 billion dirhams, primarily due to an 11% rise in net interest income.\n\nLars Kramer, FAB's Chief Financial Officer, stated that the bank's margins remained resilient, with loans to customers growing as a result of \"continued momentum\" across its franchises. Net loans and advances increased by 10% during the nine-month period, while deposits climbed by 5%, raising total assets to 1.47 trillion dirhams at the end of the reporting period.\n\nThe Middle East conflict and its impact on various sectors, such as hospitality and tourism, are expected to hinder recovery in the UAE economy. The International Monetary Fund (IMF) predicts the UAE economy will contract by 3.9% in 2026 before recovering in 2027.\n\nFAB's net impairment charges surged 33% to 3.10 billion dirhams in the first nine months, reflecting a cautious approach to risk management due to the evolving risk environment. Abu Dhabi sovereign fund Mubadala holds nearly 40% of FAB, and the Abu Dhabi royal family owns around 20% of the bank, according to data compiled by LSEG.",
  "summary": "DUBAI: First Abu Dhabi Bank , the UAE’s biggest bank by assets, reported a 6% rise in third-quarter net profit on Thursday, driven by strong growth in net interest income. Here are some details: Net profit rose to 5.74 billion dirhams ($1.56 billion) for the three months ended September 30, up from 5.39 billion dirhams a year earlier, it said in a statement, and was largely unchanged from the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
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        "url": "https://urgent.news/2026/10/28/deutsche-bank-reports-record-profit-as-it-sees-german-recovery",
        "published": "2026-10-28T10:16:00.000Z"
      },
      {
        "outlet": "BusinessDay Nigeria",
        "title": "Abbey Bank’s profit rises 56% to N2.26bn on earnings surge",
        "url": "https://urgent.news/2026/10/29/abbey-banks-profit-rises-56-to-n2-26bn-on-earnings-surge",
        "published": "2026-10-29T04:40:25.000Z"
      },
      {
        "outlet": "The National Business",
        "title": "First Abu Dhabi Bank’s third quarter profit climbs 6% due to strong business activity",
        "url": "https://urgent.news/2026/10/29/first-abu-dhabi-banks-third-quarter-profit-climbs-6-due-to-strong",
        "published": "2026-10-29T05:33:39.000Z"
      },
      {
        "outlet": "The Economic Times - Top News",
        "title": "City Union Bank shares rally 7% after Q2 net profit grows 27% YoY to Rs 416 Crore",
        "url": "https://urgent.news/2026/10/29/city-union-bank-shares-rally-7-after-q2-net-profit-grows-27-yoy-to-rs",
        "published": "2026-10-29T06:01:23.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}