Abu Dhabi Islamic Bank (ADIB) will distribute a cash dividend of Dh3.03 billion for 2024 after reporting a 16% year-on-year increase in net profit to Dh6.1 billion. The payout of 83 fils per share marks a rise from 71 fils in 2023, representing 50% of net profit.
The decision was ratified at the bank’s Annual General Assembly (AGM), where shareholders also elected a new board of directors for a three-year term and approved the financial statements for 2024.
ADIB’s total assets grew to Dh226 billion in 2024, supported by a 22% increase in customer financing. Group CEO Mohamed Abdelbary attributed the performance to a 14% increase in revenue, higher transaction volumes, and efficient funding.
“ADIB delivered outstanding financial results in 2024, with net profit before tax rising by 26% to a record level of Dh6.9 billion,” Abdelbary said. “We demonstrated balance sheet strength across all key ratios, with asset quality matrix improving due to active management of legacy portfolios and strong underwriting standards.”
