Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) on Thursday announced that its shareholders have approved appointing a new board of directors.

“We are pleased to announce ADIB’s new Board of Directors, with strong representation from the majority shareholders, and global leaders in the banking and finance industry,” Jawaan Awaidha Suhail Al Khaili, from ADIB, commented.

The shareholders also nodded to distribute a cash dividend of 27.38% for the full-year 2018, the bank said in a statement.

Total cash dividends worth AED 994 million, representing 39.76% of the bank’s net profits for the year ended 31 December 2018.

“Despite market challenges and competition within the UAE banking industry, 2018 marked another successful year for ADIB in which we have achieved solid revenue and net profit growth,” Al Khaili added.

By 12:07 pm UAE time, ADIB’s stock levelled up 0.45% at AED 4.45.