Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) registered net profits after zakat and tax worth AED 6.10 billion in 2024, marking a 16% year-on-year (YoY) jump from AED 5.25 billion.
Total operating income climbed by 14% to AED 10.63 billion as of 31 December 2024, compared to AED 9.29 billion in 2023, according to the consolidated financial results.
Basic and diluted earnings per share (EPS) attributable to ordinary shares also increased by 16% to AED 1.49 last year from AED 1.28 in 2023.
The lender reported total assets worth AED 225.90 billion at the end of December 2024, compared to AED 192.82 billion in 2023. The 17% surge was driven by financing growth in both retail and corporate banking, as well as an expansion in the investment portfolio.
Deposits from customers hiked by 16% YoY to AED 182.67 billion in 2024 from AED 157.06 billion.
Financial for Q4-24
In the fourth quarter (Q4) of 2024, ADIB logged 2% lower net profits after tax at AED 1.46 billion, versus AED 1.50 billion. Total income went up by 1% to AED 2.63 from AED 2.59 billion.
Jawaan Awaidah Al Khaili, Chairman of ADIB, commented: “In 2024, we continued to achieve significant milestones, setting new financial records with an [return on equity] ROE of 28%, advancing our digital transformation journey and accelerating our sustainability initiatives.”
“The substantial increase in our profitability and the strength of our capital position has allowed the board to recommend a cash dividend per share of 83 fils for 2024 amounting to AED 3.03 billion,” Al Khaili mentioned.
He added: “ADIB’s strong market position has allowed us to grow our market share by attracting approximately 216,000 new customers to ADIB in 2024.”
In the first nine months (9M) of 2024, ADIB recorded AED 4.63 billion in net profit, higher by 24% than AED 3.75 billion in 9M-23.
