Shareholders of Abu Dhabi Islamic Bank (ADIB) on Monday approved the distribution of a cash dividend of 83 fils per share or 83 per cent of capital. This represents a total payout of Dh3.030 billion equivalent to 50 per cent of 2024 net profit, marking an increase from 71 fils per share in 2023.
In addition to approving the dividend payout, the AGM highlighted ADIB’s strong business momentum, its outstanding performance in 2024, and its solid platform for future growth.ADIB reported a net profit before tax for 2024 of Dh6.9 billion, marking a 26 per cent increase from last year. The strong balance sheet growth, coupled with increased business momentum and diversified revenue growth, has fueled the bank’s exceptional financial performance. Net profit after tax for 2024 stood at Dh6.1 billion, reflecting a 16 per cent increase compared to the full year 2023.
Jawaan Awaidha Suhail Al Khaili, ADIB’s chairman, said: “ADIB achieved exceptional results in 2024 with net profit before tax reaching Dh6.9 billion. This notable increase in profitability, coupled with our robust capital position, has enabled the Board to propose an enhanced dividend payout of 83 fils per share. Additionally, the record return on equity of 28 per cent reflects the healthy and resilient local economy coupled with our focus on delivering transformational initiatives that align with the UAE’s dynamic economic landscape which enabled us to capitalize on the growth opportunities and deliver exceptional value to our shareholders. We remain focused on accelerating growth through innovative initiatives while strengthening our competitive position. In 2024, we expanded our customer base by attracting approximately 216,000 new customers to ADIB. We also intensified our efforts to advance the sustainability agenda and led initiatives that significantly contributed to our ESG roadmap, including our commitment to reduce carbon emission as part of our Net Zero plan. With the launch of 2035 Vision, we are putting into place a transformative roadmap that positions us at the forefront of our industry. It is a vision that will be fueled by technological advancements, an uncompromising focus on our customers, and a deep commitment to sustainability principles.”
