Bank reported a total income of AED23.3 billion, marking a 16 percent year-on-year growth
Dubai Islamic Bank approved today a 45 percent dividend for 2024, amounting to approximately AED3.25 billion ($884.9 million). The UAE’s largest Islamic bank also approved its financial statements for 2024 and other tabled resolutions, including the board and management’s strategic agenda for the coming years during its annual general assembly.
“Dubai Islamic Bank has once again demonstrated its ability to navigate market shifts, delivering record performance and long-term value creation. The robust results of 2024 reinforce our strategic alignment with the nation’s economic priorities, ensuring DIB remains a key contributor to the UAE’s vision for prosperity and sustainable development,” stated Mohammed Ibrahim Al Shaibani, director general of His Highness the Ruler’s Court, Government of Dubai, and chairman of Dubai Islamic Bank.
Bank’s net income grows to AED23.3 billion
2024 was another record year for Dubai Islamic Bank, with the bank reporting a total income of AED23.3 billion, marking a 16 percent year-on-year growth. The group’s pre-tax profit surged to over AED9 billion, up nearly 27 percent from the previous year, while net financing and sukuk investment reached AED295 billion, reflecting an annual increase of 10.1 percent.
This performance supported the balance sheet expansion as Dubai Islamic Bank’s total assets expanded by 9.7 percent year-on-year to AED345 billion. The solid 2024 performance enabled a 45 percent cash dividend and nearly 50 percent of the net profit available for distribution.
“Dubai Islamic Bank’s 2024 exceptional performance is a reflection of our ability to turn strategic ambitions into tangible results. These achievements are underpinned by our unwavering commitment to operational excellence and digital transformation, ensuring we remain a key enabler of economic progress in the UAE and beyond. The 45 percent dividend approved for 2024 underscores our commitment to delivering tangible shareholder returns while reinvesting in strategic growth aligned with the UAE’s economic vision,” noted Dr. Adnan Chilwan, group CEO of DIB.
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Shareholders appoint Internal Sharia Supervision Committee
In addition to approving the financial results and dividend distribution, Dubai Islamic Bank shareholders ratified key governance matters, including the confirmation for appointing the bank’s Internal Sharia Supervision Committee and the selection of external auditors for the 2025 financial year, along with other resolutions aimed at strengthening the bank’s operational framework.
Beyond its strong financial results, 2024 marked a year of strategic advancements and innovation for Dubai Islamic Bank. The bank successfully upgraded its technological platforms, enhancing operational efficiency, security and scalability to meet the evolving needs of customers in an increasingly digital financial landscape.
“In 2025, we will build on this momentum by scaling our digital ecosystem, empowering SMEs through targeted financing, and strengthening cross-border partnerships. With a resilient balance sheet and an innovation-driven approach, DIB is poised to lead the next era of Islamic finance, driving growth that is both profitable and purposeful,” added Chilwan.
Reinforcing its position as a leader in sustainable finance, Dubai Islamic Bank also continued to support the UAE’s Net Zero by 2050 agenda with its landmark Sukuk issuances, channeling investments into green and sustainable initiatives.
