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ADIB’s profits to owners hike 54% in 2022; dividends proposed

ADIB’s profits to owners hike 54% in 2022; dividends proposed
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0.40% 10.16 0.04

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) achieved net profits after Zakat and tax attributable to the equityholders worth AED 3.58 billion in 2022, an annual surge of 54% from AED 2.32 billion.

The basic and diluted earnings per share (EPS) reached AED 0.91 during the January-December 2022 period, up 60% year-on-year (YoY) from AED 0.57, according to the income statements.

Additionally, the total operating income rose by 23% to AED 6.83 billion last year from AED 5.56 billion in 2021.

Total assets grew by 23% YoY to AED 168.51 billion in 2022 from AED 136.86 billion, while the depositors’ accounts widened by 26% YoY to AED 138.13 billion from AED 109.61 billion.

Income Statements for Q4 

During the fourth quarter (Q4) of 2022, the net profits after Zakat and tax attributable to owners of ADIB jumped by 56% to AED 1.13 billion from AED 728 million in Q4-21.

The basic and diluted EPS hiked by 56% to AED 0.30 in Q4-22 from AED 0.19 in Q4-21, whereas the total operating income enlarged by 58% to AED 2.31 billion from AED 1.46 billion.


In a bourse disclosure, the board of ADIB recommended on 30 January 2023 cash dividends worth AED 1.77 billion, equivalent to 48.99 fils per share, for 2022.

The proposed dividends are higher than the 31 fils per share disbursed in 2021.  

Jawaan Awaidha Al Khaili, Chairman of ADIB, stated: “2022 was an unprecedented year for ADIB as we delivered a record performance of AED 3.62 billion for the first time in our history.”

Al Khaili noted: “Our initiatives to diversify our income, expand into new segments while managing asset quality served us well to deliver a [return on equity] ROE of 21.40%.”

Nasser Al Awadhi, Group CEO of ADIB, commented: “We have seen a broad-based income momentum across all of our operating businesses where we continue to gain market share which has put us in good stead to deliver one of the highest returns on equity in the market of 21.40%.”

“Our franchise has been enhanced with the consolidation of ADIB Egypt. This will help us to further extend our operations in Egypt — one of the most promising strategic markets in the region and highlights our firm confidence in the Egyptian economy,” Al Awadhi underlined.

Earlier this month, the ADX-listed bank raised its 50.20% stake in ADIB Egypt to 52.60% after purchasing 9.60 million shares in the latter for EGP 155.32 million.

In the first nine months (9M) of 2022, the UAE lender’s net profits attributable to the shareholders surged by 53% to AED 2.45 billion from AED 1.60 billion in 9M-21.