Abu Dhabi Commercial Bank (ADCB) has announced that it aims to double its net profit to AED 20 billion (double) in the next five years, achieving an annual growth rate of approximately 20 percent.
Publish dateTuesday 28 January 2025 - 12:40
According to Amac News: ADCB said it has embarked on a vision-driven growth strategy that is aligned with the UAE’s advanced economic trajectory and contributes to its position as a global financial powerhouse.
The bank added that it plans to increase its dividend payout year-on-year over the same period, and aims to increase its total dividend payout to approximately AED 25 billion over the next five years, a 50 percent increase over the total dividend payout in the previous five-year period.
ADCB also added that it continues to deliver an annual return on equity (ROE) of over 15 percent, while maintaining sound regulatory ratios and a sound capital position to support future growth.
The Chairman of ADCB Board of Directors noted the Board’s confidence in the successful implementation of this strategy, adding that the bank has a successful track record of delivering on previous strategies with the active and constructive oversight of the Board of Directors.
The CEO of ADCB Group also stated that the bank has made great progress since 2020 under the guidance of the Board of Directors and continues to rapidly expand and set clear goals to create significant value for shareholders.
The bank added that it plans to increase its dividend payout year-on-year over the same period, and aims to increase its total dividend payout to approximately AED 25 billion over the next five years, a 50 percent increase over the total dividend payout in the previous five-year period.
ADCB also added that it continues to deliver an annual return on equity (ROE) of over 15 percent, while maintaining sound regulatory ratios and a sound capital position to support future growth.
The Chairman of ADCB Board of Directors noted the Board’s confidence in the successful implementation of this strategy, adding that the bank has a successful track record of delivering on previous strategies with the active and constructive oversight of the Board of Directors.
The CEO of ADCB Group also stated that the bank has made great progress since 2020 under the guidance of the Board of Directors and continues to rapidly expand and set clear goals to create significant value for shareholders.
amacnews.com/vdch.vnit23nqm10d2.html
Source : news agency wam
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