Abu Dhabi (Etihad)
Abu Dhabi Islamic Bank announced that its general assembly approved the distribution of cash dividends of 71 fils per share for the fiscal year ending on December 31, 2023, compared to 49 fils per share in 2022, representing 49% of the bank’s total net profits for the year 2023.
Abu Dhabi Islamic Bank achieved a return on shareholders’ equity of 27.1%, which indicates its strong performance across its core business sectors, supported by the strength and flexibility of the local economy, in addition to its commitment to transformational initiatives. During the General Assembly meeting, shareholders also approved the Board of Directors’ report, the auditors’ report, and the financial statements for the year 2023.
Joaan Awaida Suhail Al Khaili, Chairman of the Board of Directors of Abu Dhabi Islamic Bank, said: “Abu Dhabi Islamic Bank” achieved exceptional results in 2023, as its net profits exceeded 5 billion dirhams, and this significant increase in profit rates, in addition to the strong capital position, enabled us to propose Distributing a dividend of 71 fils per share. We express our sincere gratitude to our shareholders for their unwavering support and confidence in our vision. Our strategic initiatives, which included diversifying income, expanding into new sectors, and maintaining asset quality, contributed to achieving a significant return on shareholders’ equity of 27%.
He added: In line with our strategic plan, Abu Dhabi Islamic is committed to the principles of environmental, social and institutional governance, and today we are more prepared to fully integrate sustainability into our operations, in conjunction with the state’s announcement of extending the Year of Sustainability. We look forward to cooperating with all concerned parties, to pioneer innovative solutions, and promote economic and sustainable development for a more prosperous future.
For his part, Nasser Al Awadhi, CEO of Abu Dhabi Islamic Bank Group, said: The bank achieved outstanding financial results in 2023, as net profits increased by 45% to a record level of 5.25 billion dirhams, driven by revenue growth of 36%, and this success was supported by an increase Transaction volume, improved profit margins and an efficient financing base, which allowed us to reach higher returns. Our strong financial position in the market and our digital initiatives have enabled us to attract more than 206,000 new customers.
He added: We expanded customer financing by 8 billion dirhams, in commitment to the strategy of growing our market share.
2024-03-01 21:13:13
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