ADIB's solid financial performance is a testament to its commitment to sustainable banking practices and its focus on providing exceptional customer experiences. Image Credit: Supplied

Abu Dhabi: The Abu Dhabi Islamic Bank’s general assembly has approved a cash dividend of Dh1.7 billion at 49 fils per share for the fiscal year ending December 31, 2022, the lender said on Tuesday -- an increase from 31 fils per share in 2021.

The dividend comprises 49.2 per cent of the bank's net profit for the year.

In addition, the bank delivered a return on equity (ROE) of 21.4 per cent, one of the highest rates in the sector.

Jawaan Awaidha Suhail Al Khaili, ADIB's Chairman, said: “We are proud to say that in 2022, we capitalised on our strengths and executed on our strategic initiatives to achieve exceptional results. We would like to extend our sincere appreciation to our shareholders for their continued support and trust in our vision.

“The consolidation of our Egypt franchise in Q4 2022 marks an important milestone for our growth trajectory. We are also proud of our firm commitment to the ESG agenda within our strategic business plan for the next five years, coinciding with the UAE declaring the Year of Sustainability, as we see a real integration of sustainability at all levels in our business.”

Nasser Al Awadhi, ADIB's Group CEO, added: "Throughout the year, ADIB has made significant progress towards realising its vision, as demonstrated by our strong financial performance and ongoing focus on transformation to build a resilient bank. The announcement of cash dividends totaling Dh1.7 billion for 2022 is a testament to ADIB's unwavering commitment to creating long-term sustainable value for our shareholders."