FAB profits jump 46% during Q3 to $1.17 billion

First Abu Dhabi Bank announced today, Thursday, a 46% jump in third-quarter net profits, exceeding analysts’ expectations, thanks to higher income from interest payments from customers who paid more to borrow.

According to Reuters, the largest bank in the UAE in terms of assets said in a statement sent via email that net profits jumped to 4.3 billion dirhams ($1.17 billion).

Analysts had expected profits of about 3.7 billion dirhams on average, according to London Stock Exchange data.