Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has partnered with Visa to launch Remit! as a new real-time cross-border money transfer service powered by Visa Direct.

Under the collaboration, ADIB customers will be able to send money to more than 11 billion cards, digital wallets, and accounts worldwide, making ADIB the first bank globally to offer such reach, according to a press release.

The partnership reflects a broader push by Visa to expand real-time money movement across the Middle East.

Global Head of Consumer Banking at ADIB, Amit Malhotra, said: “This partnership marks a major milestone for our customers and reaffirms our commitment to digital innovation and customer-centric financial services. We are excited to be the first bank globally to launch such a service, offering our customers a seamless and secure way to send money across the globe.”

Visa’s Vice President and Country Manager for the UAE, Salima Gutieva, stated: “The Middle East is home to one of the world’s most active remittance corridors. In the UAE alone, consumers send money abroad an average of 1.4 times per month. This is a clear sign of the demand for fast, secure and reliable transfers.”

Gutieva concluded: “Through our partnership with ADIB, we’re extending the reach of Visa Direct to make real-time money movement a reality for more people and businesses across the region.”

The launch comes amid rising demand for faster and more transparent cross-border transfers in the Gulf, and according to Visa’s 2025 remittance study, 95% of surveyed consumers in the UAE send money abroad at least once per year. Among those, 63% prefer to transfer funds digitally from physical locations, and nearly half cite safety, privacy and speed as key reasons for choosing digital methods.

Financial Results for H1-25

The announcement of the partnership with Visa came two weeks after unveiling a robust financial performance of ADIB during the first half (H1) of 2025. The bank reported a net profit before tax of AED 4 billion, up 16% year-on-year (YoY), which reflected a strong balance sheet growth, coupled with increased business momentum and a sustained customer growth.

In the second quarter (Q2) of 2025 alone, ADIB registered net profit before tax increasing 14% YoY to AED 2 billion, reflecting a positive trajectory that has been built over recent quarters.

Furthermore, the net profit after tax for H1-25 was AED 3.50 billion, reflecting a 15% increase on an annual basis, while reaching AED 1.80 billion for Q2-25 which marked a 13% YoY growth.

Revenue improved by 11% to AED 5.90 billion in H1-25 compared to AED 5.30 billion for H1-24. This exceptional growth reflects broad-based performance across all key segments, supported by a diverse source of income powered by continued growth in business volumes along with continued growth in fee-based businesses.

As of 30 June 2025, the total assets increased by 22% YoY to reach AED 260 billion. This growth was driven by financing growth in both retail and corporate banking, as well as an expansion in the investment portfolio.

Customer deposits also rose by 24% YoY to AED 213 billion in H1-25, compared with AED 172 billion at 30 June 2024.

Chairman of ADIB, Jawaan Awaidah Al Khaili, stated: “ADIB has delivered another strong set of results for the second quarter, bringing first-half earnings to a new high with ROE at 30%. This performance reflects the record business volumes and successful execution of our strategy which have contributed to broad-based growth across our core business.”

Al Khaili noted: “Asset growth was exceptional during the first half supported by favorable macroeconomic conditions and robust customer activities which resulted in a growth in customer financing. This demonstrates our ability to capture market opportunities with speed and discipline.”

The Chairman added: “From quarter to quarter, ADIB is continuing a trajectory of accelerated growth, delivering exceptional financial results while focusing on executing our strategy, which is based on a diversified business mix, integrating cutting-edge technology, and creating substantial shareholder value.”

From his part, Group CEO of ADIB, Mohamed Abdelbary, said: “Our Digital strategy continues to be a key driver for growth as we see a strong momentum in digital customer acquisition. We are also advancing our AI-led Innovation agenda to unlock greater personalization, efficiency and intelligence across the bank. These investments are enhancing our customer experience and positioning us at the forefront of the industry.”

It is worth noting that in Q1-25, ADIB registered higher net profits after tax at AED 1.71 billion compared to AED 1.45 billion in Q1-24.