UAE’s ADIB bank reports 2022 ROE of 21.4 pc, to pay $462.9m in dividends

By Andrei Skvarsky.

Abu Dhabi Islamic Bank (ADIB) has reported robust performance for 2022 with a 21.4 per cent return on equity (ROE), which it called “one of the highest” in the United Arab Emirates’ banking sector, and has approved cash dividends making up nearly half of the bank’s net profit for the year.

A statement from ADIB said the Sharia-compliant lender was going to pay a cash dividend of 1.7bn dirhams ($462.9m) for 2022. This amounts to 0.49 dirhams ($0.13) per share and accounts for 49.2 per cent of ADIB’s net profit for 2022, according to the statement.

Last year’s total fees for services rendered by ADIB showed 43 per cent year-on-year growth.

According to its chairman, Jawaan Awaidha Suhail Al Khaili, ADIB complies with ESG (environmental, social and governance) principles and is determined to continue to.

The UAE has declared 2023 the Year of Sustainability themed “Today for Tomorrow”.

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