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% compared with AED5.25 billion in 2023.
The Islamic bank’s net profit before tax increased by 26% 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% YoY.
ADIB’s board recommended a cash dividend per share of 83 fils for 2024, amounting to AED3.03 billion.
Revenue for 2024 improved by 14% to AED10.6 billion compared to AED 9.3 billion last year. The growth was supported by strong increases in both income from financing activities and non-funding income.
Total assets increased by 17% YoY to reach AED226 billion, supported by financing growth in both retail and corporate banking, as well as an expansion in the investment portfolio.
Customer financing grew by 24% YoY, representing an AED28 billion increase in financing in 2024, while customer deposits rose by 16% 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% and a total capital adequacy ratio of 16.2%.
The bank’s liquidity position was healthy and within regulatory requirements, with the advances to a stable funding ratio at 81% and the eligible liquid asset ratio at 17.8%.
Total shareholders’ equity rose 11% YoY to AED23 billion, led by growth in earnings, while the return on equity (RoE) stood at 28% in 2024.
