DIB announces nine months financial results

DUBAI, — Dubai Islamic Bank, DIB, today announced its results for the period ended September 30th, with a group net profit increased to AED 3,011 million, up 7% compared with AED2,801 million for the same period in 2015.

Commenting on the results, Mohammed Ibrahim Al Shaibani, Chairman of Dubai Islamic Bank, said, “Despite somewhat difficult times for the global economy, the UAE economy and banking sector continues to remain resilient with healthy profitability and strong capitalisation levels across the industry. Dubai’s economic diversification has placed the emirate in a robust position to actively pursue its long term goals, particularly in the field of Islamic finance and economy. DIB’s strategy remains aligned to the emirate’s agenda as the bank has, once again, come out with a stellar performance despite the challenging environment.”

Dubai Islamic Bank Managing Director, Abdulla Al Hamli, said, “The bank’s year to date performance has been very encouraging on the back of the strategy we had embarked on in 2014. We are clearly positioning the bank strongly for future as we continues to progress steadily towards our strategic and financial aspirations. The sustained improvement in our asset quality throughout the last few years is further testament to our continued discipline and proactive approach towards risk management. Our growth momentum remains solid driven by the expansion of our core business as we continue penetrate in existing and new sectors.”

For full financial results, please visit DIB website.

Source: Emirates News Agency