Mohamed Abdelbary

The year 2024 has been pivotal, marked by a concerted drive toward impact, innovation and sustainability. It has been a transformative period, underscoring the importance of embracing change in a rapidly evolving economic and technological landscape. For ADIB, this year has solidified our commitment to sustainable growth while placing our customers at the heart of everything we do.

Our core mission has always been clear to achieve sustainable growth while ensuring our customers remain central to all our endeavours. This year, we successfully implemented a strategy that not only expanded our customer base but also deepened our relationships with the 1.42 million customers who rely on us. We added over 154,000 new customers in the first nine months of 2024, underscoring trust and confidence in the marketplaces in ADIB. With a 15 per cent market share in retail banking, we remain the leading bank in personal and home finance, offering a diverse range of products and services that meet the evolving needs of our clients.

We have achieved important growth by focusing on expanding our business organically and diversifying our revenue streams.  Our strategic investment in data analytics has significantly boosted our ability to cross-sell our products and enhance our income from non-funded activities, which now make up 39 per cent of our total revenue.

The focus on diversifying our income sources has prepared us well to navigate expected changes in the external environment, ensuring the bank remains resilient in the face of changing economic conditions. These measures reflect our commitment to building a robust and adaptable financial institution, well-positioned for sustainable success in the years ahead.

Our commitment to innovation is a cornerstone of ADIB 2035 vision. Digital transformation remains at the forefront of our growth plans, with a focus on enhancing the customer’s experience through cutting-edge technology. This year, we launched 64 new app features and began making significant investments in generative AI to provide more personalised banking services.

As part of our ADIB 2035 Vision, we are laying the foundation for a future where fintech partnerships and Gen AI solutions drive our success. The launch of ADIB Ventures is a step forward in creating an ecosystem that nurtures innovation and accelerates the development of next-generation financial technologies.

Our commitment to sustainable growth has been evident in the way we have integrated environmental, social, and governance (ESG) principles into every aspect of our business. We are proud to be the first Islamic bank in the region to set sector-specific financed emission reduction targets for 2030. Our commitment to ESG is not just about meeting regulatory requirements; it’s about making a positive impact on society and ensuring that our financial products help build a sustainable future for all.

The bank’s commitment to sustainable finance was reinforced by the launch of its comprehensive sustainable finance framework, which supports the issuance of green, social, and sustainability sukuks.  Moreover, ADIB’s MSCI ESG rating upgrade to AA, placing us in the “Leadership” category, underscores our steadfast commitment to sustainability and governance.

Looking ahead, ADIB is committed to building on the momentum we have achieved in 2024. Our 2035 vision will be powered by Gen AI to offer our customers personalised solutions tailored to their needs while also fostering a culture of innovation to stay ahead of emerging technologies. We will continue to emphasise scaling our digital capabilities and expanding our offerings in the rapidly evolving fintech. This will allow us to further tailor our products to the unique needs of our customers and ensure that ADIB remains at the cutting edge of banking innovation.

At the same time, we are committed to talent development. The people of ADIB are at the heart of our success, and we will continue to invest in our workforce, ensuring that we have the right skills and expertise to lead us into the future.