Abu Dhabi Islamic Bank approved a cash dividend for the past year of 27.38%, equivalent to 994 million dirhams ($ 271 million).

The bank’s general assembly elected a new board of directors for the next three years, during its meeting held yesterday, Wednesday.

The bank’s profits increased 8.7% in the past year, to reach 2.5 billion dirhams compared to the profits in 2017, thanks to the growth in customer financing assets.

The bank registered a 2.4% growth in revenue to 5.8 billion dirhams, and maintained its balance sheet strength and boosted it by raising capital by issuing priority rights and issuing unspecified sukuk The term to support the first tier of the capital, in addition to the strong liquidity level and high quality of its assets.

Abu Dhabi Islamic Bank is implementing a digital transformation program in order to enhance productivity and improve the banking experience for customers.

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