External broker reports(aggregated public sources), International Securities

International Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

United arab emirates Financials / Thematic (Sector/Industry)

<ul><li>We expect FAB to report shareholders profit of AED4.2bn in 3Q24e (flattish YoY and QoQ), as higher net interest income and non-interest income is expected to be soften by higher taxes. </li><li>Net interest income is expected to grow by 4.9% YoY (-2.2% QoQ) to AED4.8bn, led by growth in loan book and YoY improvement in NIMs.</li><li>Non-interest income is expected to continue its solid stance with 17.1% YoY growth (-1.3% QoQ) mainly driven by fees and commissions. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We expect FAB to report shareholders profit of AED4.2bn in 3Q24e (flattish YoY and QoQ), as higher net interest income and non-interest income is expected to be soften by higher taxes. Net interest income is expected to grow by 4.9% YoY (-2.2% QoQ) to AED4.8bn, led by growth in loan book and YoY improvement in NIMs.Non-interest income is expected to continue its solid stance with 17.1% YoY growth (-1.3% QoQ) mainly driven by fees and commissions. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

3Q24e UAE Banks - Quarterly Results Preview