The Abu Dhabi Islamic Bank (ADIB) shareholders discussed and approved every item on the agenda during the Annual General Assembly (AGM). This included electing a new board of directors and paying out a cash dividend of 83 fils per share, or 83 percent of capital. This amounts to a total payout of Dhs3.030 billion, equal to 50 percent of 2024 net profit, up from 71 fils per share in 2023. Apart from authorizing the dividend distribution, the AGM emphasized ADIB’s robust business momentum, exceptional 2024 performance, and its strong foundation for future expansion.
In 2024, ADIB reported a net profit before tax of Dhs6.9 billion, a 26% increase over the previous year. The bank’s outstanding financial performance has been fueled by its robust balance sheet growth, diversified revenue growth, and increasing business momentum. Compared to the full year 2023, the net profit after tax for 2024 was Dhs6.1 billion, a 16 percent rise. During the meeting, shareholders approved the board of directors’ report, the auditors’ report, and the 2024 financial statements. They also elected the board of directors.
The elected Board of Directors, which is in office for three years, consists of Jawaan Awaidha Al Khaili, Dr Faisal Sultan Al-Shuaibi, Khalifa Matar Al-Mheiri, and Abdulla Ali Musleh Al Ahbabi.”We thank our shareholders for their trust and for electing the board of directors, comprising some of the most influential individuals in business, tactics, and the financial and banking services,” said Jawaan Awaidha Suhail Al Khaili, Chairman of ADIB, in response to the banking institution’s performance in the annual report.
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