Dubai Islamic Bank to Distribute 45% Dividend for 2024

Marking a 16% y-o-y growth, Dubai Islamic Bank (DIB) Group on Friday reported a total income of $6.34 billion while pre-tax profit surged to over $2.45 billion in 2024, up nearly 27% from the previous year.

The net financing and Sukuk Investment reached $77.6 billion, reflecting an increase of 10.1% y-o-y. The above supported the balance sheet expansion as DIB’s total assets expanded by 9.7% to reach $93.94. Last year’s solid performance enabled a 45% cash dividend, aggregating to an amount of approximately $880 million, and nearly 50% of the net profit available for distribution, the bank said in a bourse filing with Dubai Financial Market (DFM) in the morning.

At the annual general meeting, DIB’s shareholders, in addition to approving the financial results and dividend distribution, 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.

Reinforcing its position as a leader in sustainable finance, DIB continued to support the UAE’s Net Zero by 2050 agenda with its landmark Sukuk issuances, channeling investments into green and sustainable initiatives. As DIB enters 2025, it remains committed to innovation, financial inclusion, and responsible growth, ensuring long-term value creation for its customers, shareholders, and the broader UAE economy.

Sustained Growth

Mohammed Ibrahim Al Shaibani, Director General of His Highness the Ruler’s Court, Government of Dubai, and DIB Chairman said that the UAE’s economic resilience, driven by visionary leadership and strategic initiatives, continues to be a catalyst for sustained growth, with Dubai rapidly evolving into a global hub for trade, investment, and financial innovation.

“In this dynamic landscape, DIB has once again demonstrated its ability to navigate market shifts, delivering record performance and long-term value creation. The 2024 financial results 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,” he added.

DIB Group CEO Dr Adnan Chilwan said that the bank’s performance reflected their ability to turn strategic ambitions into tangible results. With pre-tax profits surging and increase in total assets, they continued to redefine possibilities in Islamic finance, solidifying our position as a global leader.

“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,” Dr Chilwan added.