Abu Dhabi Islamic Bank (ADIB) recently announced a significant milestone with its shareholders approving a cash dividend of 83 fils per share, marking an increase from 71 fils in 2023. This represents a total payout of Dh3.030 billion, equivalent to 50% of the bank’s 2024 net profit. The decision reflects ADIB’s robust financial performance, highlighted during its Annual General Meeting (AGM), where the bank’s strong business momentum and solid platform for future growth were emphasized.
In 2024, ADIB reported a net profit before tax of Dh6.9 billion, a 26% increase from the previous year. This substantial growth was driven by a strong balance sheet and diversified revenue streams. The bank’s net profit after tax stood at Dh6.1 billion, reflecting a 16% increase compared to 2023. This financial success is attributed to ADIB’s strategic focus on transformational initiatives that align with the UAE’s dynamic economic landscape.
Jawaan Awaidha Suhail Al Khaili, ADIB’s chairman, noted that the bank’s exceptional results were supported by a robust capital position, enabling an enhanced dividend payout. ADIB expanded its customer base by attracting approximately 216,000 new customers in 2024 and intensified efforts on its sustainability agenda, including initiatives to reduce carbon emissions as part of its Net Zero plan. The bank has launched its 2035 Vision, a transformative roadmap that positions ADIB at the forefront of the industry, focusing on technological advancements, customer-centricity, and sustainability.
Mohamed Abdelbary, ADIB’s group chief executive officer, highlighted the bank’s outstanding financial results, driven by a 14% increase in revenue growth and a 22% expansion in customer financing. ADIB demonstrated balance sheet strength across key ratios, with an improving asset quality matrix. The bank’s renewed vision aligns with national priorities, emphasizing the use of Gen AI, Emiratization, and sustainability.
ADIB achieved record-breaking performance in 2024, with significant growth across its businesses and an enhanced digital presence. The bank’s ESG strategy was strengthened to drive its sustainable banking agenda, underscoring its commitment to growth, performance, and innovation. ADIB’s 2035 vision aims to make it the world’s most innovative Islamic bank, centered on strategic pillars that will drive its development over the next decade.
