Fab Reportsrecord First Quarter 2018 Group Net Profit Of Aed 3.0 Billion



First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, reported its financial results for the first quarter ended 31 March 2018 today. 2018 off to a solid start… • Q1’18 Group Net Profit at AED 3.0 Billion, up 2% year-on-year and 6% quarter-on-quarter • AnnualisedEarnings per Share (EPS) at AED 1.06, compared to AED 1.04 in Q1’17 • Operating income at AED 4.9 Billion, compared to AED 5.2 Billion in the first quarter of 2017(which included opportunistic investment gains of around AED 400 Million) • Cost discipline and sustained synergy realisationcontinue to support market-leading cost-to-income ratio (excluding integration costs) of 25.8%, improving from 27.2% in the same period of 2017 • Impairment charges (net) at AED 439 Million compared to AED 641 Million in Q1’17 … driven by healthy business momentum • Total assets at AED 678 Billion, up 1% quarter-on-quarter and 3% year-on-year • Loans and advances (net)and customer deposits both grew 2% quarter-on-quarter to AED 338 Billion and AED 404 Billion, respectively • CASA deposits represent 41% of total customer deposits,up from 38% as of December-end 2017 • Robust asset quality with Non-Performing Loan ratio at 3.1% and strong provision coverage at 127% … whilst maintaining strong liquidity and capital ratios, and improving returns • Liquidity position remains highly comfortable with loan-to-deposit ratio at 84% and Liquidity Coverage Ratio (LCR) at 112% • Common Equity Tier-1 (CET1) ratio comfortably in excess of regulatory requirements at 12.4% • Return on Tangible Equity (RoTE) at 17.2%, up from 16.1% in Q1’17 Commenting on the bank’s performance, Abdulhamid Saeed, Group Chief Executive Officer of FAB, said: “I am pleased to announce that we started 2018 on a positive note with FAB realisinga record Group Net Profit of AED 3.0 Billion. During the quarter, we continued to build on the many successes we have achieved to-date, whilstdelivering strong revenues and healthy balance sheet growth. We also maintained a strong capital position even after the distribution of AED 7.6 Billion of cash dividends earlier this year. “As we enter our second year, FAB continues to make significant progress in delivering on its business objectives and integration milestones, with IT integration activities in particular moving forward at a steady pace and according to plan. As part of our business expansion strategy, we are also extending our presence into Saudi Arabia, after receiving commercial and investment banking licenses from the Saudi Arabian Monetary Authority and Capital Market Authority. “Looking ahead to the remainder of 2018, we remain steadfast in our commitment to support the growth ambitions of our shareholders, customers, employees and all other stakeholders. We will continue to contribute to the late Sheikh Zayed bin Sultan Al Nahyan’s vision of a strong and prosperous UAE, as we put our customers first and remain ahead of market trends.” FAB Q1’18Proforma Summary Financials About First Abu Dhabi Bank (FAB) FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises. Headquartered in Abu Dhabi in Khalifa Business Park, the bank’s international network spans over 19 countries outside the UAE, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience, and will support the growth ambitions of its stakeholders across countries in which the bank operates. To empower its customers and clients to Grow Stronger, FAB initiated a powerful movement, which goes beyond banking. The Grow Stronger movement represents the bank’s promise to support its stakeholders’ goals and growth ambitions, providing ideas, tools and expertise to help them become stronger, today and in the future. With total assets of AED 678Billion (USD 185Billion) as of March-end 2018, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Finance? as the safest bank in the UAE and the Middle East, 4th in emerging markets, 17th amongst commercial banks worldwide, and 31st in the world.Through a strong, diversified balance sheet, leading efficiency and a solid corporate governance structure in place, FAB is set to drive growth forward. For further information, visit: www.bankfab.com For investor-related queries, please contact FAB Investor Relations team onir@bankfab.com

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