Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has announced a remarkable 45% cash dividend for 2024, reflecting its robust financial performance and commitment to shareholder returns. The announcement was made during the bank's Annual General Assembly (AGM), where shareholders approved the financial statements for the year and endorsed key governance resolutions.

The year 2024 marked another milestone for DIB, with the bank reporting a total income of AED 23.3 billion, representing a 16% increase from the previous year. The pre-tax profit soared to over AED 9 billion, a significant 27% rise compared to 2023. This impressive growth was supported by an increase in net financing and Sukuk investment, which reached AED 295 billion, a 10.1% year-on-year rise. Consequently, DIB's total assets expanded by 9.7%, closing at AED 345 billion.

The bank's strong financial results have enabled a generous dividend payout, amounting to approximately AED 3.25 billion, and accounting for nearly 50% of the net profit available for distribution. This move underscores DIB's commitment to delivering value to its shareholders while reinforcing its position as a global leader in Islamic finance.

Key governance matters were also addressed during the AGM, including the appointment of the bank's Internal Sharia Supervision Committee and the selection of external auditors for the 2025 financial year. These measures aim to strengthen the bank's operational framework and ensure continued compliance with Islamic Sharia principles.

His Excellency Mohammed Ibrahim Al Shaibani, Chairman of Dubai Islamic Bank, highlighted the UAE's economic resilience and strategic initiatives as catalysts for sustained growth. He emphasized DIB's ability to navigate market shifts and deliver record performance aligned with the nation's economic priorities.

Dr. Adnan Chilwan, Group CEO of DIB, expressed confidence in the bank's strategic ambitions, citing the bank's ability to redefine possibilities in Islamic finance. The substantial growth in pre-tax profits and total assets has solidified DIB's position as a global leader in the sector.

Given the bank's strong financial performance, strategic alignment with national priorities, and commitment to shareholder returns, the outlook for Dubai Islamic Bank remains optimistic. Investors are advised to buy as the bank continues to demonstrate its capacity for growth and value creation in the Islamic finance sector.