Abu Dhabi Bank Q1 Profit Down 2%

FAB posted Q1 net profit of AED5.01 bn, a 2% decline YoY and QoQ, missing estimates by 6%.
Revenue rose 3% QoQ, driven by 5% net interest income growth and 2% non‑interest income increase, while operating costs rose 7%.
Cost‑to‑income ratio held at 23%; cost of risk climbed to 67 bps, and CET1 ratio fell to 12.8% from a year earlier.
Loans grew 8% QoQ, deposits 4%, loan‑to‑deposit ratio rose to 77%, and overlays of AED300 mn were recorded.