According to Amac News: Based on the bank's announcement, net profit before tax also reached 6.9 billion dirhams, an increase of 26% compared to the previous year.
In the last quarter of 2024, ADIB’s net profit before tax reached 1.6 billion dirhams, an increase of 7% compared to the previous year.
The bank’s board of directors proposed a cash dividend of 83 fils per share for 2024, equivalent to 3.030 billion dirhams.
Revenue in 2024 increased by 14% to 10.6 billion dirhams from 9.3 billion dirhams last year. This growth was achieved due to a strong increase in income from financing activities and non-financing income.
The bank’s total assets increased by 17% year-on-year to AED 226 billion. This growth was driven by increased funding in the retail and corporate banking segments, as well as an expansion in the investment portfolio.
Customer funding increased by 24% year-on-year to AED 28 billion in 2024, while customer deposits increased by 16% to AED 183 billion, representing positive growth compared to AED 157 billion last year.
ADIB maintained a strong capital position, increasing its Common Equity Tier 1 ratio to 12.1% and its Total Capital Adequacy Ratio to 16.2%.
The bank’s liquidity position was healthy and in line with regulatory requirements, with a Funds to Stable Funds ratio of 81.0% and a Eligible Liquid Assets ratio of 17.8%.
Total equity increased by 11% year-on-year to AED 23 billion, driven by increased revenues, with return on equity (RoE) reaching 28% in 2024.