{"id":100108,"date":"2025-01-28T00:00:00","date_gmt":"2025-01-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adcbs-net-income-up-15-in-2024\/"},"modified":"2025-01-28T00:00:00","modified_gmt":"2025-01-28T00:00:00","slug":"adcbs-net-income-up-15-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/28\/adcbs-net-income-up-15-in-2024\/","title":{"rendered":"ADCB\u2019s net income up 15% in 2024"},"content":{"rendered":"

Abu Dhabi Commercial Bank<\/a><\/strong> (ADCB)\u2019s net income increased 5% y-o-y to<\/strong> AED 2.6 bn <\/strong>in 4Q 2024<\/strong>, on the back of \u201cstrong loan growth, enhanced efficiencies and significant improvement in cost of risk,\u201d according to its earnings release (pdf)<\/a>. The bank recorded a 3% y-o-y increase in its net income from interest and Islamic financing during the quarter, amounting to AED 3.5 bn, while non-interest income experienced an increase of 57% y-o-y to AED 2.0 bn, driven by a 25% increase in income from fees and commission.<\/p>\n

Over the full year, the lender saw its net income rise 15% y-o-y to AED 9.4 bn <\/strong>in 2024, while net income from interest and Islamic financing surged 7% y-o-y during the same period to AED 13.2 bn. The bank\u2019s net loans were also up 16% y-o-y to AED 351 bn, it said. <\/p>\n

Dividends: <\/strong>The board proposed a total payout of AED 4.3 bn in dividends, accounting for 46% of net income, the bank said.<\/p>\n

Looking ahead, ADCB revealed a new five-year strategy<\/strong> aiming at doubling its bottom line to AED 20 bn, representing annual growth of 20%, it said in the statement. The bank also plans to increase total dividend payouts to AED 25 bn over the next five years \u2014 a 50% increase compared to the previous five-year period \u2014 while maintaining an annual return on equity of over 15%. <\/p>\n

The bank will also focus on developing its digital and AI capabilities<\/strong> to improve customer experiences, productivity, and risk management, according to the strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"

The lender\u2019s bottom line increased 5% in 4Q<\/p>\n","protected":false},"author":1,"featured_media":100109,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[215,159,237,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-abu-dhabi-commercial-bank","tag-banking","tag-earnings-watch","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"fb6321e5-4a20-4ab8-a22a-828265ab04e5","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1962.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ADCB\u2019s net income up 15% in 2024","related_issue":[100092],"teaser":"The lender\u2019s bottom line increased 5% in 4Q","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.4e5c3766-0f04-4031-a637-38ede765055e.mp3"},"yoast_head":"\nADCB\u2019s net income up 15% in 2024 - 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