First Abu Dhabi Bank (FAB) Q3 2026 earnings summary

Executive summary

• 9M 2026 net profit reached AED 16.517bn, up 3% YoY; ROTE was 18.6%, above medium-term guidance of over 16%.

• Total assets reached AED 1.472tn at 30 Sep 2026, up 7% YTD; lending growth, deposits and diversified funding supported the balance sheet.

• Operating income rose 7% YoY to AED 29.714bn, reflecting diversified revenue, margin expansion and cost discipline; full-year guidance was reaffirmed.

Financial highlights

• 9M operating profit rose 8% YoY to AED 23.32bn and profit before tax increased 5% to AED 20.215bn; net profit was AED 16.517bn, up 3%.

• 9M net interest and Islamic financing income rose 11% YoY to AED 16.982bn; non-interest income increased 3% to AED 12.73bn.

• Q3 operating income was AED 10.212bn, up 9% YoY; net profit was AED 5.752bn, up 6%.

• Net fees reached AED 4.197bn versus AED 3.540bn; fees and commissions grew 19%, supported by loan origination, deal execution and trade-related fees.

• 9M total comprehensive income fell to AED 12.698bn from AED 16.424bn, including AED 3.819bn of OCI losses, partly reflecting fair-value reserve changes.

Outlook and guidance

• Full-year guidance was reaffirmed; FY'26 loan growth guidance is low-to-mid teens, with lending up 10% YTD and growth tracking toward the upper end of the range.

• FY'26 ROTE guidance is above 16% versus 18.6% for 9M; CET1 guidance is above 13.5% pre-dividend versus 14.0% at September.

• FY NIM was expected toward the top of the 180–190bps guidance range; Q4 NIM was expected to remain resilient with potential modest expansion.

• Cost of risk was 62bps for 9M versus FY guidance below 70bps; provision coverage was 114% versus guidance above 90%.

• In-house outlook: UAE GDP growth of ~3% in 2026 and ~5.8% in 2027, oil at ~$88/bbl and one additional rate hike in Q4'26.