Dubai Islamic Bank announces financial results

by Richard Kilner

Story link: Dubai Islamic Bank announces financial results

Dubai Islamic Bank (DIB) has reported it achieved net profits of AED1.1bn for the first nine months of the year.

This includes impairment provisions of AED403m made during the period, in accordiance with DIB’s prudent and careful approach.

Total assets stand at AED82.9bn, with customer deposits at AED66.1bn, both of which are down from the six-monthly levels of AED87.8bn and AED71.5bn respectively.

The bank has also maintained its focus on longterm sustainable growth and will be well-placed to benefit greatly from the global recovery according to His Excellency Chairman Mohammed Ibrahim Al Shaibani.

The chairman has stated that the period of great uncertainty and difficulty is coming to an end, as signs from around the world point to recovery and stabilisation.