Abu Dhabi Islamic Bank (ADIB) has announced a significant cash dividend of 83 fils per share for 2024, amounting to Dh3.030 billion. This marks the bank’s highest payout since its inception and represents 50% of its 2024 net profit. ADIB achieved a remarkable financial performance in 2024, with net profit before tax increasing by 26% year-over-year to Dh6.9 billion. This resulted in an industry-leading return on equity of 28%. Net profit after tax also grew by 16% to Dh6.1 billion.

The bank’s revenue for 2024 saw a 14% increase to Dh10.6 billion, driven by strong growth in both financing activities and non-funding income. Funded income rose by 7% to Dh6.6 billion, while non-funded income surged by 28% to Dh4.1 billion, reflecting a strategic focus on revenue diversification. Operating expenses increased by 3%, but the cost to income ratio improved to 29.6%. Impairments decreased by 18%, contributing to a lower cost of risk.

ADIB’s total assets grew by 17% to Dh226 billion, with customer financing increasing by 24% and deposits rising by 16%. The bank maintained a robust capital position and a healthy liquidity profile. ADIB’s leadership expressed optimism about its future, citing the launch of its 2035 Vision, which emphasizes technological advancements, customer focus, and sustainability.

The bank’s financial performance is a testament to its unique market position and customer-centric approach, underpinned by a solid balance sheet and prudent risk management. With its renewed vision, ADIB aims to build a future-proof bank aligned with national priorities, focusing on AI, Emiratization, and sustainability.

ADIB’s strong financials and strategic vision position it well for future growth, making it an attractive entity in the UAE’s banking sector. The bank’s commitment to innovation and customer satisfaction will likely continue to drive its success in the coming years.