First Abu Dhabi Bank P.J.S.C. (ADX: FAB)

FAB Income Statement

Financials in millions AED. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	67,271	62,623	30,104	18,084	20,101	24,369
Interest Paid on Deposits	47,925	44,521	15,887	6,426	7,845	11,594
Net Interest Income	19,346	18,102	14,217	11,658	12,256	12,775
Net Interest Income Growth (YoY)	9.87%	27.32%	21.95%	-4.88%	-4.06%	-1.96%
Gain (Loss) on Sale of Assets	432.44	432.44	3,098	507.4	1,394	29.07
Gain (Loss) on Sale of Investments	4,690	3,742	2,318	6,485	951.03	1,506
Other Non-Interest Income	6,671	5,478	4,628	3,774	4,220	5,946
Total Non-Interest Income	11,793	9,652	10,044	10,766	6,566	7,481
Non-Interest Income Growth (YoY)	28.63%	-3.90%	-6.71%	63.98%	-12.23%	14.89%
Revenues Before Loan Losses	31,139	27,754	24,261	22,425	18,822	20,256
Provision for Loan Losses	3,828	3,078	2,839	2,658	2,620	1,843
Revenue	27,311	24,676	21,421	19,766	16,202	18,413
Revenue Growth (YoY)	15.77%	15.19%	8.37%	22.00%	-12.00%	3.35%
Salaries and Employee Benefits	3,832	3,469	3,233	3,005	2,784	3,205
Occupancy Expenses	983.7	937.7	1,067	735.71	567.36	451.31
Amortization of Goodwill & Intangibles	228.61	237.61	202.96	198.86	201.22	201.62
Selling, General & Administrative	2,578	2,376	2,155	1,720	1,439	1,561
Total Non-Interest Expense	7,716	7,125	6,705	5,719	5,060	5,499
EBT Excluding Unusual Items	19,595	17,551	14,717	14,047	11,142	12,914
Asset Writedown	1.41	1.41	-326.85	-743.36	-248.49	-6.7
Pretax Income	19,596	17,552	14,390	13,187	10,894	12,907
Income Tax Expense	2,605	1,042	967.62	644.27	341.2	314.46
Earnings From Continuing Operations	16,991	16,510	13,422	12,542	10,553	12,593
Minority Interest in Earnings	-114.75	-104.75	-10.91	-11.16	2.72	-72.42
Net Income	16,876	16,405	13,411	12,531	10,555	12,520
Preferred Dividends & Other Adjustments	741.82	652.82	376.47	356.2	426.25	571.86
Net Income to Common	16,135	15,753	13,035	12,175	10,129	11,948
Net Income Growth	13.59%	22.33%	7.02%	18.72%	-15.69%	4.24%
Basic Shares Outstanding	11,041	11,041	11,041	11,040	11,033	11,023
Diluted Shares Outstanding	11,041	11,041	11,041	11,040	11,034	11,027
Shares Change (YoY)	0.00%	-	0.01%	0.06%	0.07%	-0.03%
EPS (Basic)	1.46	1.43	1.18	1.10	0.92	1.08
EPS (Diluted)	1.46	1.43	1.18	1.10	0.92	1.08
EPS Growth	13.48%	20.91%	7.27%	19.82%	-15.30%	3.65%
Dividend Per Share	0.710	0.710	0.520	0.484	0.732	0.732
Dividend Growth	36.54%	36.54%	7.37%	-33.79%	0%	0%
Effective Tax Rate	13.29%	5.94%	6.72%	4.89%	3.13%	2.44%

Source: S&P Capital IQ. Banks template. Financial Sources.