Abu Dhabi Commercial Bank (ADCB) plans to double its net profit to $5.4 billion (AED20 billion) within the next five years, targeting an annual growth rate of approximately 20%.
The announcement came as ADCB has embarked on a visionary growth strategy, aligning with the UAE’s progressive economic trajectory and contributing to the country’s position as a leading global financial powerhouse.
The strategy charts a clear blueprint to align with the country’s ambitions through a substantial increase in scale and reach, according to an ADCB press statement released today.
The bank is increasing year-on-year paid-out dividends over the same period, whereby ADCB aims to increase its total targeted dividend payout to approximately AED25 billion over the next five years, up 50% compared to the total dividend payout in the preceding five-year period.
The bank is delivering an annual Return on Equity exceeding 15% each year, while maintaining healthy regulatory ratios and an adequate capital position to fuel future growth.
“The Board of Directors has endorsed ADCB’s ambitious strategy expressing their confidence in its successful implementation. ADCB’s management team, with the Board’s active and constructive oversight, has a proven track record as demonstrated by the fulfillment of the previous strategy well ahead of its projected timeframe,” said Khaldoon Khalifa Al Mubarak, Chairman of ADCB’s Board of Directors.
“The bank’s ambition continues to be forward-looking and attuned to the pace and promise of the Nation’s next phase of economic transformation. Our focus on rewarding the shareholders remains integral to our new strategy, ensuring that ADCB creates enduring value for all who place their trust in us.”
“A detailed strategy blueprint has been approved by the Board, laying out a clear way forward on how to achieve this ambition. As a progressive financial institution, ADCB will accelerate deployment of digital and AI technology to elevate customer experience, enhance risk management and boost productivity while empowering UAE nationals to lead the transformation of the banking industry,” said Ala’a Eraiqat, ADCB Group Chief Executive Officer.
ADCB’s full-year net profit rose by 15% in 2024 to AED 9.42 billion in 2024 from AED 8.21 billion a year earlier.
