Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) obtained the approval of its general assembly to disburse cash dividends of AED 2.59 billion for 2023, according to a press release.
ADIB will pay out a dividend of 71 fils per share, marking an increase from 49 fils per share in 2022 and constitutes 49% of the bank's net profit for the year.
Jawaan Awaidha Suhail Al Khaili, ADIB's Chairman, said: “ADIB achieved exceptional results in 2023, surpassing the AED 5 billion milestone in net profit.”
“This notable increase in profitability, coupled with our robust capital position, has enabled us to propose an enhanced dividend payout of 71 fils per share,” Al Khaili continued.
The Chairman noted: “Our strategic initiatives, including income diversification, expansion into new segments, and upholding asset quality, have contributed to an impressive Return on Equity (ROE) of 27%.”
Nasser Al Awadhi, Group CEO of ADIB, commented: "Our strong market position and digital initiatives enabled us to attract over 206,000 new customers. We expanded customers' financing by AED 8 billion, adhering to our market share growth strategy.”
“Looking ahead to 2024, amidst global economic uncertainties, we are confident that our strong financial position, and focus on innovation will empower us to seize opportunities, identify new growth areas, and maintain broad-based income momentum across the group,” Al Awadhi highlighted.
