First Abu Dhabi Bank P.J.S.C Full Year 2024 Earnings: In Line With Expectations

First Abu Dhabi Bank P.J.S.C (ADX:FAB) Full Year 2024 Results

Key Financial Results

• Revenue: د.إ27.7b (up 12% from FY 2023).
• Net income: د.إ16.3b (up 3.6% from FY 2023).
• Profit margin: 59% (down from 64% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: د.إ1.48 (up from د.إ1.43 in FY 2023).

FAB Banking Performance Indicators

• Non-performing loans: 4.80% (down from 5.33% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

First Abu Dhabi Bank P.J.S.C Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Banks industry in United Arab Emirates.

Performance of the Emirian Banks industry.

The company's shares are down 2.6% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with First Abu Dhabi Bank P.J.S.C, and understanding it should be part of your investment process.

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