Abu Dhabi Islamic Bank (ADIB) reported a record net profit of Dh6.1 billion for 2024, marking a 16% increase from Dh5.25 billion in 2023. Net profit before tax rose by 26% year-over-year to Dh6.9 billion, supported by robust financing growth across retail and corporate banking.
For the fourth quarter of 2024, ADIB recorded a net profit before tax of Dh1.6 billion, reflecting a 7% year-over-year increase. The bank’s board has proposed a cash dividend per share of 83 fils, amounting to Dh3.03 billion.
ADIB’s total revenue for 2024 increased by 14% to Dh10.6 billion, compared to Dh 9.3 billion in the previous year. The rise was attributed to strong growth in financing income and non-funding revenue streams.
Total assets grew by 17% year-over-year to Dh226 billion, driven by increased financing activity and an expanded investment portfolio. Customer financing rose by 24%, adding Dh28 billion in new financing, while customer deposits climbed 16% to Dh183 billion from Dh157 billion in 2023.
ADIB maintained a strong capital position, with a Common Equity Tier 1 (CET1) ratio of 12.1% and a Total Capital Adequacy Ratio of 16.2%. The bank’s liquidity metrics remained solid, with the Advances to Stable Funding Ratio (ASFR) at 81.0% and the Eligible Liquid Asset Ratio (ELAR) at 17.8%, ensuring compliance with regulatory requirements.
Shareholder returns
Total shareholders’ equity rose by 11% year-over-year to Dh23 billion, supported by profit growth. The bank reported a return on equity (RoE) of 28% in 2024, reinforcing its profitability amid continued business expansion.
