6.1 billion dirhams profits "Abu Dhabi Islamic" In 2024
Abu Dhabi, January 28 / WAM / Abu Dhabi Islamic Bank announced today, the achievement of net profits of 6.1 billion dirhams after the tax during the year 2024, and an increase of 16% compared to 5.25 billion dirhams in the year 2023.
The bank achieved record performance before the tax, as its profits reached 6.9 billion dirhams, an increase of 26% on an annual basis.
During the last quarter of last year, net profits before the tax from 2024 reached 1.6 billion dirhams, which represents an increase of 7% on an annual basis.
The Board of Directors recommended the distribution of total cash profits of 3.030 billion dirhams for the year 2024, equivalent to 83 fils per share.
The bank’s revenues during 2024 improved 14% to 10.6 billion dirhams compared to 9.3 billion dirhams in the year 2023, thanks to the strong growth in both income from sources of financing and income without sources For fees and commissions.
The total assets increased by 17% on an annual basis to 226 billion dirhams, driven by the growth of the total financing in the banking services sector for individuals and the corporate banking services sector, as well as growth in the investment portfolio.
The financing of customers increased by 24% on an annual basis, as customer financing increased by 28 billion dirhams during the year 2024.
Customer deposits recorded 16% on an annual basis, to 183 billion dirhams compared to 157 billion dirhams in 2023.
Abu Dhabi Islamic Bank maintained a strong and stable capital of capital, as the rate of the first part of the shareholders ’rights reached 12.1%, and the total capital adequacy rate is 16.2%.
The bank’s cash liquidity stabilized at good levels in line with the regulatory requirements, with an improvement in the rate of stable funds, reaching 81% and the rate of qualified liquid assets, which amounted to 17.8%.
The total shareholders ’rights increased by 11 % on an annual basis to 23 billion dirhams, supported by the growth of profits, and the annual return on shareholders’ rights reached 28 % in 2024.
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