Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) reported an about 19% year-on-year (YoY) rise in the net profits attributable to the shareholders to AED 12.531 billion in 2021, compared to AED 10.555 billion.
The bank's net interest income declined to AED 10.679 billion in 2021 from AED 11.372 billion in the earlier year, according to the bank's consolidated financials for the year ended 31 December 2021.
Meanwhile, the bank saw a decrease in net interest income and income from Islamic financing to AED 11.658 billion in 2021 from AED 12.256 billion in the previous year.
FAB's assets amounted to around AED 1 trillion as of 31 December 2021, compared to AED 919.06 billion as of 31 December 2020.
The basic and diluted earnings per share (EPS) settled at AED 1.12 each in 2021, versus AED 0.93 in the earlier year.
Meanwhile, FAB’s board has proposed a cash dividend distribution of 70 fils per share, split into 49 fils in cash and 21 fils as scrip dividends in lieu of cash.
The bank's Chairman, Tahnoon bin Zayed Al Nahyan, commented: "2021 has been a year of a strong economic rebound, with unprecedented opportunities for innovation and growth, despite continued uncertainties due to COVID-19."
The bank's CEO, Hana Al Rostamani, said: "Our performance in 2021 was built onto a robust foundation across liquidity, funding, and capital metrics, with our AA- credit rating recently reaffirmed by S&P coupled with a stable outlook, which underlines our strong balance sheet fundamentals and risk profile."
It is noteworthy to mention that during the first nine months (9M) of 2021, the net profits attributable to the shareholders of FAB jumped by 26% to AED 9.21 billion, compared to AED 7.325 billion in the year-ago period.
