ADIB Shareholders Approve AED 3.030 Billion Cash Dividend Amid Strong Financial Performance

Abu Dhabi Islamic Bank (ADIB) shareholders recently convened for their Annual General Assembly (AGM), where they approved all agenda items. Key decisions included electing a new Board of Directors and agreeing on a cash dividend of 83 fils per share, equating to 83 percent of capital. This payout totals AED 3.030 billion, representing 50 percent of the 2024 net profit, up from 71 fils per share in 2023.

ADIB's financial results for 2024 were impressive, with a net profit before tax reaching AED 6.9 billion, marking a significant 26 percent increase from the previous year. The bank's robust balance sheet growth and diversified revenue streams contributed to this success. Net profit after tax was AED 6.1 billion, reflecting a 16 percent rise compared to the full year of 2023.

The AGM also highlighted ADIB’s strong business momentum and its solid platform for future growth. Shareholders approved the board of directors’ report, auditors' report, and financial statements for the year. The newly elected Board members include Jawaan Awaidha Al Khaili, Dr. Faisal Sultan Al-Shuaibi, Khalifa Matar Al-Mheiri, Abdulla Ali Musleh Al Ahbabi, Najib Youssef Fayyad, Abdul Wahab Al-Halabi, and Maha Al Qattan.

Jawaan Awaidha Suhail Al Khaili, ADIB's Chairman, expressed gratitude towards shareholders for their trust in electing a board comprising prominent leaders in business and finance. He stated: "We thank our shareholders for their trust and for electing the board of directors which includes some of the most prominent leaders in business, strategy, and the financial and banking services."

Al Khaili also noted that ADIB achieved exceptional results in 2024 with net profit before tax reaching AED 6.9 billion. He emphasised that this increase in profitability allowed the Board to propose an enhanced dividend payout of 83 fils per share. The record return on equity of 28 percent reflects a healthy local economy and strategic initiatives aligned with the UAE's economic landscape.

Future Vision and Sustainability

ADIB is focused on accelerating growth through innovative initiatives while strengthening its competitive position. In 2024, approximately 216,000 new customers joined ADIB. The bank also advanced its sustainability agenda by leading initiatives contributing significantly to its ESG roadmap and committing to reduce carbon emissions as part of its Net Zero plan.

The launch of ADIB's Vision 2035 outlines a transformative roadmap positioning it at the industry's forefront. This vision is driven by technological advancements, customer focus, and sustainability principles commitment.

CEO Insights on Financial Success

Mohamed Abdelbary, ADIB's Group Chief Executive Officer, commented on the bank’s outstanding financial performance: "ADIB delivered outstanding financial results in 2024, with net profit before tax rising by 26 percent to a record level of AED 6.9 billion." He attributed this success to a revenue growth increase by 14 percent due to higher transaction volumes and expanded customer financing supported by an efficient funding base.

Total assets rose to AED 226 billion due to customer financing growth expanding by 22 percent in 2024. Abdelbary highlighted improvements across key ratios due to active management of legacy portfolios and strong underwriting standards.

With renewed Vision 2035 aspirations align closely with national priorities focusing on Gen AI usage while emphasising Emiratisation and sustainability efforts.

With inputs from WAM