Abu Dhabi Islamic Bank (ADIB) reported a record performance in 2024, with a net profit after tax of AED 6.1B, reflecting a 16% increase from AED 5.25B in 2023. Net profit before tax rose 26% YoY to AED 6.9B.
In Q4 2024, the bank’s net profit before tax reached AED 1.6B, a 7% YoY increase. The Board proposed a cash dividend of 83 fils per share, totalling AED 3.03B for the year.
Revenue for 2024 grew 14% to AED 10.6B, driven by higher income from financing activities and non-funding income. ADIB’s total assets expanded by 17% YoY to AED 226B, supported by strong growth in both retail and corporate financing, as well as an increase in the investment portfolio.
Customer financing grew 24% YoY, adding AED 28B in new financing, while customer deposits rose 16% YoY to AED 183B. ADIB maintained a strong capital position, with a Common Equity Tier 1 ratio of 12.1% and a Total Capital Adequacy Ratio of 16.2%.
Liquidity remained robust, with an advances-to-stable-funding ratio of 81.0% and an eligible liquid asset ratio of 17.8%, meeting regulatory requirements. Total shareholders’ equity increased 11% YoY to AED 23B, with a return on equity (RoE) of 28% for 2024.