The Abu Dhabi Islamic Bank announced yesterday its financial results for the year 2024, achieving a net profit before the tax at a value of 6.9 billion dirhams, an increase of 26% on an annual basis, registering a strong return on the shareholders ’rights of 28%, while the net profits after the tax reached 6.1 Billion dirhams, which represents 16% growth compared to 5.25 billion dirhams, net profits achieved by the bank in 2023.
The bank’s board of directors recommended the distribution of profits by 83 fils per share, to reach 3.03 billion dirhams, equivalent to 50% of the net profit of 2024.
The bank stated, in a statement, that the revenues witnessed, during the past year, an improvement of 14% to 10.6 billion dirhams, compared to 9.3 billion dirhams in 2023, thanks to the strong growth in both income from sources of financing and income without financing sources, driven With the growth of all sectors of business and products, and the continuation of the strong performance of fees and commissions.
The income grew from the sources of financing by 7% on an annual basis, to 6.6 billion dirhams during the year 2024, compared to 6.1 billion dirhams in 2023, driven by the strength of the size of business.
The income from non -financing sources recorded a growth of 28% during the past year, to 4.1 billion dirhams compared to 3.2 billion dirhams in 2023, which reflects the strong and continuous performance of revenues from fees and commissions, which grew by 12% of sales of various products, along with income growth from Investment by 39%.
The total assets increased by 17% on an annual basis to reach 226 billion dirhams, and the financing of customers increased by 24% on an annual basis, as customer financing grew at a value , Compared to 157 billion dirhams in 2023.
“We continued to achieve strong achievements during the year 2024, and we recorded new financial results, as the return on shareholders’ rights reached 28%, and we made a remarkable progress in our march of digital transformation, and we accelerated the pace of sustainability initiatives. “
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