Midan Financial reports exceptional Q4 2024 financial results, demonstrating strong performance across all business lines and exceeding market expectations.
Financial Highlights
Key financial metrics for Q4 2024 show significant growth:
- Net profit increased by 25% year-over-year
- Total assets grew by 18%
- Operating income up by 22%
- Return on equity improved to 15.5%
Business Line Performance
Strong performance across all business segments:
- Retail Banking: 20% growth in customer deposits
- Corporate Banking: 30% increase in loan portfolio
- Investment Banking: 40% growth in advisory fees
- Wealth Management: 25% increase in assets under management
Strategic Initiatives
Key factors contributing to our strong performance:
- Digital transformation success
- Market expansion in GCC region
- Enhanced product offerings
- Operational efficiency improvements
Risk Management
Our risk management framework continues to demonstrate strength:
- Non-performing loan ratio at 1.2%
- Capital adequacy ratio at 18.5%
- Strong liquidity position
- Robust credit quality
Outlook for 2025
Based on current performance and market conditions, we expect:
- Continued growth across all business lines
- Further digital innovation
- Expansion into new markets
- Enhanced shareholder returns
Dividend Announcement
The Board of Directors has approved:
- Final dividend of AED 0.75 per share
- Total dividend for 2024 of AED 2.25 per share
- Dividend yield of 4.5%
- Payment date: February 15, 2025