• ADIB’s Baseline Credit Assessment (BCA) and Adjusted BCA were upgraded to baa3 from ba1.

Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, received an upgrade to its Baseline Credit Assessment (BCA) from Moody's as the ratings agency affirmed ADIB’s credit ratings, indicating continued stability and improvement in the bank's financial health.

The upgrade in ADIB's BCA is attributed to the bank's improved profitability, driven by higher margins and diversified revenue streams. ADIB recorded historical high net profits in 2023, with a notable increase in net income to tangible assets. Additionally, the bank's capitalization levels have strengthened, and its reliance on stable, low-cost current and savings accounts deposits has been a key factor in maintaining financial resilience.

ADIB's local and foreign currency long-term issuer ratings have been affirmed at A2, with short-term issuer ratings maintained at Prime-1. Additionally, Moody's has upgraded the bank's BCA and Adjusted BCA to baa3 from ba1. The outlook on the long-term issuer ratings remains stable. The affirmation of ADIB's ratings reflects Moody's recognition of the bank's significant role within the local banking sector, and the government's consistent support for banks during challenging economic periods.

"Moody's affirmation of our ratings and the upgrade to our Baseline Credit Assessment underscores the robust financial position and resilience of ADIB. This recognition highlights our strong capital base and unwavering commitment to navigate dynamic market landscapes. ADIB's leadership in the Islamic finance sector is a result of our dedication to providing innovative Sharia-compliant banking solutions and superior financial services," said Mohamed Abdelbary, Acting Group Chief Executive Officer at ADIB.

ADIB achieved record-breaking performance in 2023, with significant growth across all its businesses. The market share expanded, while customer finance and income increased. Enhancing its digital presence, the bank saw a rise in actively digital customers through improvements to its mobile app. Moreover, in line with sustainability goals, ADIB strengthened its ESG strategy and governance framework to drive its sustainable banking agenda for the next three years, underscoring its dedication to growth, performance, and innovation.


About ADIB

ADIB is a leading bank in the UAE with AED 193 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day.

ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).

ADIB has a strong presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Qatar, and Iraq.

Named World’s Best Islamic Bank by The Financial Times - The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products.

For media information, please visit www.adib.ae or contact:
ADIB                                                                              Edelman 
Lamia Khaled Hariz                                                      Simon Hailes 
Head of Public Affairs                                                   Director of Financial Communications