Dubai: the UAE's biggest bank FAB has had a good start to 2023 - but with first quarter 2023 net profit at Dh3.9 billion, the numbers  come in higher than what the markets had been anticipating. That's 70 per cent higher on a year-on-year basis.

This was derived from Dh6.7 billion in income, which is up 51 per cent from a year ago. The gains come in a higher interest rate environment, with FAB reporting strong appetite among businesses and retail clients for its loans and other services.