Abu Dhabi, UAE– Abu Dhabi Commercial Bank (ADCB) today reported AED 6.434 billion ($1.75 billion) in net profits for 2022, an increase of 23 percent compared to 2021.
The bank’s net profit for the fourth quarter of 2022 was AED 1.784 billion, an increase of 23 percent compared to the same period in 2021.
The bank’s net interest income was to the tune of AED 10.194 billion, an increase of 15 percent compared to 2021, while non-interest income increased by 22 percent to AED 4.151 billion, compared to the previous year.
The Board has recommended a dividend of AED 0.55 per share, equivalent to 60 percent of net profit, translating to a pay out of AED 3.827 billion. In 2021, the dividend was AED 0.37 per share, equivalent to 49 percent of net profit, with a total payout of AED 2.574 billion.
Khaldoon Al Mubarak, Chairman of ADCB, said, “The Bank is building long-term resilience through strong financial performance, driven by a clear strategy, a positive culture and a robust governance framework.
The bank issued its inaugural $500 million green bond to drive investment into green initiatives.