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ABU DHABI/WAM
Abu Dhabi Islamic Bank (ADIB) achieved a record performance in 2024, with Net Profit after tax totalling AED6.1 billion in 2024, an increase of 16 percent compared with AED5.25 billion in 2023.
Net Profit before tax increased by 26 percent year-over-year (YoY) to AED6.9 billion.
During the last quarter of 2024 (Q4 2024), net profit before tax reached AED1.6 billion, up 7 percent YoY.
The Bank’s Board recommend a cash dividend per share of 83 fils for 2024, amounting to AED3.030 billion.
Revenue for 2024 improved by 14 percent to AED10.6 billion compared to AED 9.3 billion last year. This growth was supported by strong increases in both income from financing activities and non-funding income.
Total assets increased by 17 percent YoY to reach AED226 billion. This growth was driven by financing growth in both retail and corporate banking, as well as an expansion in the investment portfolio.
Customer financing grew by 24 percent YoY, representing an AED28 billion increase in financing in 2024, while customer deposits rose by 16 percent YoY to AED183 billion, compared with AED 157 billion last year.
ADIB maintained a robust capital position with a Common Equity Tier 1 ratio of 12.1 percent and a total Capital Adequacy Ratio of 16.2 percent.
The bank’s liquidity position was healthy and within regulatory requirements, with the advances to a stable funding ratio at 81.0 percent and the eligible liquid asset ratio at 17.8 percent.
Total shareholders’ equity rose 11 percent YoYo to AED23 billion, led by growth in earnings, while the return on equity (RoE) stood at 28 percent in 2024.