Dubai Islamic Bank (DIB) announced a robust set of financial results for the year ended December 31, 2024, demonstrating solid performance and continued growth across all key metrics.
2024 Financial Highlights:
- Total Income: AED 23.34 billion, up 16% year-over-year (YoY).
- Pre-Tax Profit: AED 9.0 billion, a significant increase of 27% YoY.
- Total Assets: Increased by 10% YoY to AED 345 billion.
- Net Financing and Sukuk Investments: Grew to AED 295 billion, up by 10% YoY.
- Customer Deposits: Rose to AED 249 billion, marking an increase of nearly 12% YoY.
- Non-Performing Financing (NPF) Ratio: Improved to 4.0%, down 140 basis points YoY.
- Digital Bank Stake in Türkiye: Enhanced to 25%.
- Proposed Dividend: 45%, pending shareholder approval at the upcoming AGM.
Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank
His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank, stated: “The UAE has showcased exceptional growth across major economic indicators this year. With strong economic fundamentals and a diversified economy, we are on a clear path to sustainable growth. Dubai, in particular, has strengthened its position as a global business hub, driven by significant growth in key sectors such as real estate, tourism, and banking.”
Dr. Adnan Chilwan, Group Chief Executive Officer of DIB, added: “2024 was a record year for DIB, with significant achievements in both asset growth and strategic initiatives. Our balance sheet expanded robustly, and we made significant strides in enhancing our business and digital capabilities. The UAE banking sector remains the largest in the region, reflecting the strong economic activities and our strategic initiatives to support the UAE’s economic transformation.”
Strategic Developments and Innovations:
During 2024, DIB made significant advancements in its digital transformation, with substantial investments in technological upgrades to support the growing digital economy. The bank also increased its stake in the digital bank in Türkiye to 25%, further expanding its footprint and enhancing its digital offerings.
Future Outlook:
Looking ahead, DIB remains committed to sustaining its growth trajectory and continuing its contribution to the UAE’s economic prosperity. The bank is well-positioned to navigate the future, leveraging its robust balance sheet, strong asset quality, and strategic investments in digital transformation.
