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ADIB to distribute Dh3.03B dividend for 2024
Khaleej Times
|January 29, 2025
Abu Dhabi Islamic Bank (ADIB) on Tuesday announced a cash dividend per share of 83 fils for 2024 amounting to Dh3.030 billion, its highest payout since inception.
The amount, which is equivalent to 50 per cent of ADIB's 2024 net profit, was announced as the lender recorded a 26 per cent year-over-year increase in net profit before tax to Dh6.9 billion for 2024, resulting in an industry-leading return on equity of 28 per cent.
Net profit after tax grew 16 per cent year on year to Dh6.1 billion. For the fourth quarter of 2024, net profit before tax reached Dh1.6 billion, up seven per cent year on year. Revenue for 2024 improved by 14 per cent to Dh10.6 billion compared to Dh9.3 billion last year.
"The strong business volumes across all segments and products, along with continued strength in fee-based businesses, played a significant role in this improvement," the bank said in a statement.
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