Abu Dhabi Islamic distributes 994 million dirhams to shareholders – Economy – Local

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The Abu Dhabi Islamic Bank General Assembly approved the recommendation of the Board of Directors to distribute cash dividends to shareholders of approximately 994 million dirhams, 27.38% of the capital for the previous year, and approved an increase in the percentage of foreign ownership to reach 40% as a maximum.

The date of the sixth of next April has been defined as the last day for participation in the distributions, while the eighth of April has been determined to accrue the profits that will be distributed within 30 days of the date of the General Assembly.

Abu Dhabi Islamic Bank achieved profits of 2.6 billion dirhams in 2019, a growth of 4% compared to 2018, and operating profits grew by 4.4% to reach 3.26 billion dirhams driven by the growth of customer financing assets by 3.1% to 81.1 billion dirhams, and increased income from investments by 30.7% to reach 687.0 million dirhams.

The total assets of the bank reached 125.9 billion dirhams during the past year, a growth of 0.6%, compared to 125.2 billion dirhams on December 31, 2018.

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