ICD (Investment Corporation of Dubai)

The Group announces its best-ever performance, well above last year’s record.

Record Net Profit for the Year 2023 of AED 60.8 Billion

Record Assets of AED 1.32 Trillion

Dubai – 29 May 2024 – ICD (Investment Corporation of Dubai) announced today its consolidated financial results for the year ended 31 December 2023 having generated record Revenues of AED 310.2 Billion and a record Net Profit of AED 60.8 Billion, representing an exceptional achievement surpassing last year’s earnings.

Revenues reached a record AED 310.2 Billion, up 16 per cent with an increase of AED 42.8 Billion compared to the prior year, driven primarily by significantly higher passenger traffic in Transportation as well as the asset growth and higher interest rates in Banking and Financial Services. Oil & Gas revenues declined as global oil prices retreated from their 2022 peak. Overall revenues grew faster than operational costs, boosting margins.

Continue reading ICD-Record Net Profit for the Year 2023 of AED 60.8 Billion →