ADIB appoints new Board of Directors

`14-03-2019 Media in\ Abu Dhabi
 ABU DHABI – The shareholders of Abu Dhabi Islamic Bank (ADIB) elected a new board of directors at the annual general assembly meeting held yesterday. The bank’s general assembly approved a cash dividend of 27.38% for 2018 representing 39.76% or 994 million dirhams of net profit achieved last year.
During the meeting, the Assembly also approved the Board of Directors ‘Report and the Auditors’ Report and Financial Statements for 2018.
Abu Dhabi Islamic Bank Board Member, Mr. Joaan Awaidah, said that the new Board of Directors has strong representation from the majority shareholders and includes a number of prominent leaders in the business, strategic and financial services sectors.
He added that Abu Dhabi Islamic Bank has been keen to develop its digital banking platform and its award-winning products, which was reflected in attracting more than 60,000 new customers to the bank in 2018.
Abu Dhabi Islamic Bank (ADIB) announced its financial results for the year 2018, which increased by 8.7% to AED 2.5 billion compared to FY 2017 due to growth in customer finance assets. The bank recorded a growth of 2.4% to 5.8% And maintained its balance sheet strength by increasing capital by issuing priority rights and issuing non-term instruments to support the first tier of capital, as well as the strong liquidity level and high quality of its assets.
ADIB is currently implementing a digital transformation program to enhance productivity and enhance customer experience. The first phase of this program was the launch of Express, the new generation of branches offering a unique banking experience combining personal and digital technologies. Currently, more than 95% of banking transactions are carried out through the Bank’s digital platforms, including the implementation of an average of 2 million mobile transactions per month.