Abu Dhabi Islamic Bank · ADX:ADIB
Abu Dhabi Islamic Bank — FY2024 Earnings Presentation
28 slides from Abu Dhabi Islamic Bank's earnings presentation, Jan 29, 2025
Slide 1: FY 2024 Earnings Presentation
ADIB IR Website FY 2024 Earnings Presentation Analyst & Investor Conference Call IR App Download link: Abu Dhabi, 29 January 2025
Slide 2: Contents
Contents FY 2024 Earnings Presentation Key Highlights Financial Performance Questions & Answers Appendix Contacts Disclaimer 2
Slide 3: Key Highlights
1 2 Key Highlights 3 4 5 FY 2024 Earnings Presentation 6 3
Slide 4: Financial highlights
Financial highlights Record earnings driven by strong business momentum & growth across diverse income streams Record FY 2024 performance with net income before tax of AED 6.9bn up 26% YoY and up 16% FY’24 Net Income growth YoY after tax to AED 6.1bn, translating to ROE of 27.9% Revenue up 14% YoY t
Slide 5: Outlook and Guidance
Outlook and Guidance Solid financial & strategic foundations drive a promising outlook for 2025 Market Outlook Management Guidance FY 2024 Actual FY 2025 Guidance Solid GDP growth Gross Financing Growth Real GDP growth (%) Executing ADIB’s growth strategy against a 22% > 10% positive economic backdr
Slide 6: Financial Performance
1 2 Financial Performance 3 4 5 FY 2024 Earnings Presentation 6 6
Slide 7: Financial Performance Highlights
Financial Performance Highlights Record profitability in FY 2024 with 26% growth in net profit before tax driven by strong customer financing and non-funded income growth Strong YoY Growth in Profitability Robust Balance Sheet Growth YoY Strong Capital Position and Return YoY 6.9bn 226bn 16.2% Net I
Slide 8: Key financial metrics – FY 2024 vs FY 2023
Key financial metrics – FY 2024 vs FY 2023 Record set of results with ROE reaching 27.9% driven strong commercial momentum, diversified revenue streams and cost discipline FY 2023 FY 2024 FY 2024 vs FY 2023 Amount % Profitability (AED mn) Revenue 9,294 10,632 1,338 14% Expenses -3,061 -3,145 -83 3%
Slide 9: Income Statement
Income Statement FY 2024 net income before tax growth of 26% YoY driven by strong revenue momentum, operating efficiency and balance sheet growth Net Income (AEDmn) Net Income before Tax Movement YoY (AEDmn) 3,255 3,304 2,925 +26% 3,029 3,072 894 141 6,868 2,326 5,472 444 2,177 -83 1,442 Profit befo
Slide 10: Funded Income
Funded Income Strong growth in funded income with NPM trending strong reflecting discipline on both asset and liability pricing Net Profit Margin (%) Net Profit Margin Movement YoY (%) 7.37% 7.41% 7.47% 7.40% 6.78% -15bps 0.18% 0.17% 4.67% 4.60% 4.46% 4.50% 0.06% 4.35% 4.35% 4.50% -0.03% 2.60% 2.63%
Slide 11: Non-Funded Income
Non-Funded Income Strong non-funded income growth YoY on F&C and investment income, underlining strategic focus on revenue diversification Non-Funded Income (AEDmn) Non-Funded Income Movement YoY (AEDmn) -1% +28% 1,201 226 4,066 984 1,064 192 94 974 382 827 3,172 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 Non-fu
Slide 12: Operating Expenses
Operating Expenses Discipline cost management and revenue growth drove 336bps YoY improvement in Cost/Income ratio Cost To Income Ratio (%) Expenses Movement YoY (AEDmn) -336bps +3% 32.9% 3,061 43 36 4 3,145 30.4% 28.6% 29.1% 29.6% FY 23 1Q 24 1H 24 9M 24 FY 24 Expenses Employee costs General & Depr
Slide 13: Provisions
Provisions Improved asset quality metrics underpinned by prudent provisioning Provisions Movement YoY (AEDmn) +4% 94 744 50 774 -67 -48 Provisions Retail Wholesale Associates and subs Others Provisions FY 23 FY 24 +43% -34% -21% +49% Cost Of Risk (%) Impairments Composition (%) Associates and subs R
Slide 14: Non-Performing Financing
Non-Performing Financing Asset quality continues to improve significantly with NPA ratio of 4.0% lowest since 1Q 17 while coverage ratio increased to 82% NPA (AEDmn) NPA Movement YoY (AEDmn) -19% -19% 7,292 7,292 6,625 6,384 6,116 5,941 5,941 -1,025 -218 -108 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 NPA Corpor
Slide 15: Balance Sheet
Balance Sheet Total assets surpassed AED 225bn driven by 24% growth in customer financing supported by strong and diversified funding position Total Assets (AEDbn) Total Assets Movement YoY (AEDbn) 222.6 225.9 +17% 213.4 192.8 194.6 +24% 32.1 4.9 1.8 238.5 225.9 192.8 1.4 5.5 -12.6 4Q 23 1Q 24 2Q 24
Slide 16: Customer Financing
Customer Financing 22% YoY growth reflecting market share gains in retail and corporate market Customer Financing, Net (AEDbn) Customer Financing, Customer Financing, Gross Movement YoY (AEDbn) Gross by Segment (%) 142.6 +22% 132.1 135.1 +26% Other Private 16.6 9.2 1.1 3.5 0.6 151.2 147.1 1.1% 120.2
Slide 17: Investments
Investments Diversified Investment Portfolio grew 20% vs 4Q 23 Investments (AEDbn) Investments Movement YoY (AEDbn) 28.8 29.3 +20% 26.3 27.2 24.5 4.9 29.3 24.5 -0.1 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 Investments Investments carried at Investments carried at FV Investments 4Q 23 amortised cost through P&L
Slide 18: Customer Deposits
Customer Deposits YoY growth of 16% with AED 8.7bn increase in CASA, demonstrating strategic initiatives to grow market share Total Deposits (AEDbn) Total Deposits Movement YoY (AEDbn) 179.7 182.7 +16% 172.2 +22% 160.3 8.7 192.0 10.8 1.8 4.9 0.9 182.7 157.1 157.1 7.9 -9.3 4Q 23 1Q 24 2Q 24 3Q 24 4Q
Slide 19: Capital and Liquidity
Capital and Liquidity Robust fundamentals across all key metrics reflecting strong capital and liquidity ratios comfortably above regulatory requirements Capitalization Ratios (%) Liquidity Ratios (%) 79.5% 81.0% 76.0% 76.6% 76.9% 17.2% 17.2% 17.6% 16.8% 78.1% 16.2% 76.7% 75.2% 73.2% 73.0% 16.0% 16.
Slide 20: Questions & Answers
1 2 3 Questions & Answers 4 5 FY 2024 Earnings Presentation 6 20
Slide 21: Appendix
1 2 3 Appendix 4 5 FY 2024 Earnings Presentation 6 21
Slide 22: Investment Highlights
Investment Highlights Strong Management, Solid Fundamentals and Clear Strategy Clear Strategy Experienced management Strengthen Islamic leadership position Deepening customer relationships 1 2 Best in class management team Extensive banking experience with Create productivity and efficienc
Slide 23: Consistent dividend distribution
Consistent dividend distribution ADIB consistently distribute dividends with average yield of above 5% Shareholder Return Metrics 15 14 12% 13.92 13 12 9.9% 11 10% 10 8.0% 9 8% 7.6% 7.0% 7.1% Share Price 8 6.2% 6.5% 7 6.0% 6% 5.1% 5.4% 6 Dividend Yield 4.4% 4.5% 5 4.1% 4 4% 3 2 2.49 2% 1 0 0% 2012 2
Slide 24: Ratings and Accolades
Ratings and Accolades ADIB's recognition for excellence in Islamic banking Credit Ratings ADIB's MSCI ESG Rating Recent Accolades A2 #1 Stable Outlook #1 Market leader in Islamic Retail digital bank MSCI Rating Distribution 25% 24% 25% A+ 16% Stable Outlook 6% 2% #1 #1 1% Bank in the UAE Safest Isla
Slide 25: Contacts
1 2 3 Contacts 4 5 FY 2024 Earnings Presentation 6 25
Slide 26: Additional Information
Additional Information Please contact the Investor Relations team for additional information or download ADIB's IR App ADIB Investor Relations Contact ADIB Investor Relations App Mrs. Lamia Khaled Hariz Head of Public Affairs and Investor Relations E: Lamia.Hariz@adib.com T: +917 2 634 3000 M: +971
Slide 27: Disclaimer
1 2 3 Disclaimer 4 5 FY 2024 Earnings Presentation 6 27
Slide 28: Disclaimer
Disclaimer The information contained herein has been prepared by Abu Dhabi Islamic Bank PJSC (ADIB). ADIB relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. This presentation has been prepared for information purposes only and is
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