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

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

Key Financial Results

• Revenue: د.إ7.29b (up 14% from 3Q 2023).
• Net income: د.إ4.46b (up 13% from 3Q 2023).
• Profit margin: 61% (down from 62% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: د.إ0.38 (up from د.إ0.36 in 3Q 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 5.5%. Earnings per share (EPS) also surpassed analyst estimates by 8.8%.

Looking ahead, revenue is forecast to grow 5.5% 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 shares are up 3.2% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for First Abu Dhabi Bank P.J.S.C that you need to be mindful of.

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