The results of the research conducted by the publication "Emirates Today" based on information from the Dubai Financial Market showed that the total volume of dividends offered by three banks listed on the Dubai Financial Market amounted to approximately 12.06 billion dirhams. This data was published after the banks announced their financial results for 2024 at the end of the past Friday, confirming the strength of the national economy and record indicators of the banking sector in the country for the past year.
According to the study, the leading volume of declared dividends is "Emirates Dubai National Bank" with around 6.317 billion dirhams, followed by "Sharjah Bank" with a total of 4.232 billion dirhams and "Dubai Trading Bank" with more than 1.51 billion dirhams.
It is worth noting that "Emirates Dubai National Bank" announced a planned distribution of available dividends for 2024 for a total sum of 6.317 billion dirhams, which constitutes 100% of the capital. Such plans will be discussed at the general assembly on February 24 of the current year.
An important aspect is the growth of net profit of "Emirates Dubai National Bank" by 7% to 23 billion dirhams. The total income of the bank for 2024 exceeded 44 billion dirhams, while the volume of presented loans grew by 10%, reaching 88 billion dirhams for corporate clients and increased by 30% for individuals.
The Board of Directors of "Sharjah Bank" also recommended distributing dividends at 211% of the capital for 2024. The bank reported a net profit growth of 4% to 9.017 billion dirhams compared to 8.676 billion dirhams in 2023, while the profit before tax reached 9.886 billion dirhams.
Regarding "Dubai Trading Bank", the Board of Directors recommended distributing dividends at 50.74% of the capital, which amounts to 1.515 billion dirhams for 2024. The bank reported that the net profit after tax payments exceeded 3 billion dirhams by the end of the past year, indicating a growth of 14% compared to the previous year.
