First Abu Dhabi Bank P.J.S.C Second Quarter 2024 Earnings: Beats Expectations

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

Key Financial Results

• Revenue: د.إ6.86b (up 11% from 2Q 2023).
• Net income: د.إ4.19b (up 1.1% from 2Q 2023).
• Profit margin: 61% (down from 67% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: د.إ0.38 (up from د.إ0.38 in 2Q 2023).

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

First Abu Dhabi Bank P.J.S.C Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 5.2%.

Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Banks industry in United Arab Emirates.

Performance of the Emirian Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for First Abu Dhabi Bank P.J.S.C that you should be aware of.

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